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DBS launches cashless purchasing card for Singapore's logistics sector

Tuesday 12 May 2020 10:44 CET | News

DBS Bank has rolled out a cashless purchasing card for the logistics sector to address the operational inefficiencies faced by the logistics SMEs in Singapore.

The ‘DBS Logistics Purchasing Card’ (DBS P-Card) aims to end the paper-based, manual payment, and collection processes to promote digital transformation in the industry. The new card supports logistics SMEs with a digital solution to settle payments and collections at container depots.

Furthermore, in the context of the current pandemics, the DBS P-Card reduces exposure to bacteria and viruses for drivers and cashiers from handling cash.

The bank has already enlisted Yang Kee Logistics as its first DBS P-Card customer.

BS Bank estimates that nearly 1,000 drivers will eventually benefit from the launch as more transportation companies use Yang Kee’s container depots, according to Verdict.co.uk. Rejoice Container Services, a Singapore-based company, has also applied for the DBS P-Card.

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Keywords: DBS Bank, cards, logistics, pandemics, contactless, paper work, Singapore, payments
Categories: Payments & Commerce
Companies:
Countries: Singapore
This article is part of category

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