Justin Thomas Head of Standard Bank Fleet Management

Fleet management is a complex and challenging task. Whether the fleet consists of cars, vans, or long-haul trucks, incorrect management can result in massive operational costs.

“Until now, fleet payment technology has lagged behind the times. For 40 years, magnetic strip cards have been used for fuel purchases,” says Justin Thomas, Head of Standard Bank Fleet Management. “However, these cards are prone to counterfeiting, they cannot be linked to two-factor authentication, and they cannot be linked to other applications because the architecture is too old. Also, they cannot be used cross-border, requiring organisations to use alternative payment mechanisms. These cross-border alternatives are complicated, with an increased risk of fraud and abuse.”

Chip and pin cards are part of daily life in the consumer space, with their authentication features and their ability to connect to other devices. Now, Standard Bank Fleet Management has innovated new payment technology, especially for fleets.

“Our Visa fleet solution is ground-breaking, because it can facilitate these forward-looking advantages. The chip and pin solutions are not prone to skimming, and are able to facilitate cross-border payments. The pin provides multilayer authentication, and the fleet manager is able to change the pin when required,” Thomas says.

The solution includes a vehicle-specific card for each driver. It has inbuilt controls, the ability to view and approve transactions in real time, the facility to pay for tolls, repairs and maintenance, and it can be linked to value-added products and services, such as fines and licensing, roadside assistance, driver training and telematics.

For the commercial trucking space, where large fuel payments have to be made daily, a tamper-proof windscreen tag with RFID capabilities has been innovated as a means of payment. This is also pin authenticated.

The RFID capabilities in the tag payment system allow for diesel rebates. “We have partnered with the oil companies to offer our RFID customers diesel rebates, which currently range from 70 cents to R2.50 per litre. This gives value back to the customers, allowing them to save significant amounts on fuel spend,” Thomas says.

Additionally, the admin and transaction fees for the Standard Bank Fleet Management solution are almost 80% lower than the industry average.

“Organisations that have a variety of vehicles will benefit in multiple ways. The trucks will be equipped with the RFID tags, and receive diesel rebates. The passenger vehicles will use the Visa fleet solution, with the best transaction and admin fees in the market today,” Thomas emphasises.

The team at Standard Bank innovated this product two years ago, and are now rolling it out to business clients in the 20 African countries where Standard Bank operates. It has proved so successful that it has pioneered a new industry standard.

The Payments Association of South Africa has mandated that all banks need to go to market with a chip and pin card. The old magnetic strip card system will be discontinued in March 2026. The Standard Bank Visa Fleet Card solution has won the President’s Award for Technology Excellence from the Institute of IT Professionals of South Africa, and the Digital Banker Middle East and Africa award for Most Innovative Payment Solution in 2023. “We are proud to be changing the industry for the better,” Thomas says. “Chip and pin technology makes business fleet payments far more secure, making it easier for our customers, and tougher for criminal syndicates. It also facilitates easier cross border trade within the continent. We look forward to building on this technology to create more innovative solutions for our fleet clients.”

Contact fleet.sales@standardbank.co.za or visit standardbank.co.za/fleet to learn more about our Fleet Management solutions