… BoN says competition imperative for better service, pricing
By Hilary Mare
VIVO Energy Namibia, the company that markets and distributes Shell fuels and lubricants in Namibia last week entered the Namibian payments ecosystem, launching its new Shell Fuel Card primed for fleet management.
The Shell Fuel Card is a smart technology fuel payment option that gives fleet owners control over their fuel spent.
The card was approved as a payment instrument by Bank of Namibia in September 2017.
Johan Grobbelaar, Vivo Energy Namibia MD at the launch said Vivo Energy Namibia strives to innovate and bring solutions to its customers.
“As such, I am proud to bring to you the Shell fuel card in Namibia. We are excited to announce that we are the first fuel company to launch a card that’s approved by Bank of Namibia,” he said.
The Shell Fuel Card offers, smart technology with chip and PIN for security and control, vehicle identification and tagging, driver identification and tagging, point of sale transaction, post-paid and prepaid cards options, control options – with product, geographical or time restrictions, convenience options – possibility of multiple drivers per card, comprehensive reporting with monthly easy-to-read statements for your fleet and key information reported on single page.
Barbara Dreyer-Omoregie, Director of the Payment and Settlement Systems Department, Bank of Namibia highlighted last week that in approaching the Bank for authorization, Vivo had the intention of providing a payments solution aimed at offering a wide range of benefits to fleet management companies, corporates and individuals across Namibia.
“Given the complexity behind fleet card operations, initiatives such as the Vivo Energy Fuel Card are greatly welcomed as it contributes to the ever growing dynamism in the payments land-scape in Namibia. New entrants to the payments ecosystem provide much needed competition too which can lead to more cost effective and efficient payments services at reasonable prices to the consumer. The latter is key to the Bank in its efforts to ensure that fees and charges for payment services offered are in the public interest while promoting competition and cost effectiveness.
“As we celebrate today’s launch, it is equally important to highlight the expectations placed on Vivo Energy Namibia as a new participant in the National Payment System. Therefore, as Vivo Energy Namibia sets out to roll out its product, it should ensure that it meets all regulatory requirements on an on-going basis, contribute to ensuring the safety, efficiency and cost-effectiveness of the National Payment System, and upholds the core values as outlined in the National Payment System Vision 2020 namely, collaboration, integrity, respect, transparency, fairness, innovation and excellence,” she said.
Echoing these views, Kornelia Shilunga, Deputy Minister of Mines and Energy said that the oil and gas industry remains a key driver of the economy and is a significant contributor to the country’s Gross Domestic Product.
“Despite the challenges presented by the current economic climate, the mining and oil and gas industries continue to employ thousands of Namibians while contributing to state revenue through taxes.
“The existence of fuel stations in various towns across Namibia not only offers job opportunities to the local people but it stimulates economic activity in the towns. This is welcome, considering the current economic status.
“From the presentation by the Vivo Energy Namibia management, it is evident that the Shell fuel card which we are launching today gives fleet managers more control over their fuel costs. Another exceptional feature is that the card ensures driver security, as no cash is carried around,” she said.
According to Vivo Energy, the card is an optimal fleet management tool which provides more control and less effort and also boosts driver security, as no cash is carried for fuel.
Another benefit to fleet owners is the ease of fleet/vehicle performance tracking; efficient administrative and financial operations; and reduced fuel related fraud.
The Shell network offers over 42 sites that accept the cards on the forecourts.
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