Sampath Bank Introduces Visa Corporate Fuel Card

Continues to Encourage dynamic enterprises to effectively manage their fuel related expenses

Colombo, June, 2021: Sampath Bank announced the launch of the Sampath Visa Corporate Fuel Card, in prepaid card and credit card formats, to empower businesses of all sizes to go hassle free with their fuel payments.

Businesses can offer this card to their employees to make cashless payments at any fuel station around the island. They can assign predefined transaction limits and impose restrictions on non-fuel transactions. The Sampath Visa Corporate Fuel Card allows cardholders to make contactless payments by simply tapping the card on the POS machine.

Sampath Bank is waiving off the joining fee and first year annual fee on these cards and offering the tailor-made service at a nominal fuel surcharge. The Bank is also offering free e-statements and SMS Alert facilities to help businesses keep track of each card transaction through to a central administrative point.

On the whole, this convenient and secure solution from Sampath Bank is set to simplify and streamline the monitoring and management of any business’s fuel expenses.

The launch of this new cashless payment solution is part of Sampath Bank’s ongoing efforts to encourage businesses to increasingly adopt digitization for their daily transactions, in line with the Government and the Central Bank of Sri Lanka’s vision for the nation’s payments landscape.

It comes at a time when employees of most companies are working remotely due to the global pandemic and will hence help businesses avoid unnecessary delays and disruptions to day-to-day operations.

“Traditionally, fuel expenses have involved dealing with cash, fuel allowance chits, fuel station bills, etc. We are delighted to simplify the whole process with the introduction of the Sampath Visa Corporate Fuel Card. Businesses can now offer staff members individual fuel cards with predefined limits and restrictions to make payments at any fuel station around the island. They will be able to monitor every transaction in near real time. This will also have a positive impact on their payments, bookkeeping and reporting processes. We invite our business customers to avail themselves of the convenience and security offered by the Sampath Visa Corporate Fuel Card and gain greater control over their fuel expenses,” said Darshin Pathinayake, Head of Card Centre, Sampath Bank PLC. “We remain committed to leveraging technology to develop and deliver market relevant financial solutions that offer greater value to the nation.”

Anthony Watson, Country Manager, Sri Lanka and Maldives, Visa,said, “In line with our commitment to helping businesses digitize more processes, the corporate fuel card is an apt solution for them to manage fuel expenses. By choosing contactless card payments over cash at fuel stations, businesses not just make quicker payments but have visibility into their daily fuel expenses. We are delighted to partner with Sampath Bank to announce the launch of this new offering for businesses.”

The Sampath Visa Corporate Fuel Card joins an extensive suite of corporate payment management solutions offered by Sampath Bank. This includes the Sampath Vishwa Corporate online banking portal, Cash and Cheque Collection services, Cheque Printing and Distribution, Investment Portfolio Management and more. The Bank works closely with its business customers to understand the unique requirements of their business and develop tailormade solutions to offer them greater value.

Sampath Bank is a 100% local bank that has deeply rooted itself in the hearts of the people of Sri Lanka. Established in 1987, the bank has become a state-of-the-art financial institution that continues to be a market leader today thanks to its constant innovation and customer focused approach to business. It has introduced many firsts to the Sri Lankan banking sector including the introduction of ATMs to Sri Lanka, extended banking hours and slip-less banking to name a few. The Bank continues to steadily transform itself into a technology-driven financial services provider whilst keeping true to local traditions and values.