DBS launches cashless purchasing card for the logistics sector

The DBS P-Card will provide digital solution for payments and collections.

DBS has launched the DBS Logistics Purchasing Card (DBS P-Card) to support the logistics sector, according to an announcement.

The DBS P-Card will allow small or medium-sized enterprises (SMEs) to settle payments and collections at container depots with a simple tap on the checkout terminal.

Drivers will also no longer need to carry cash or wait at container depots for their companies to resolve cash shortfalls.

Container depots will also access payment and collection data, allowing them to conduct business analysis and forecasting. The solution also aims to enhance security for the container depot, whilst avoiding the need to pay for daily courier services to the bank.

Yang Kee Logistics has signed as the first customer to adopt the DBS P-Card, which will enable drivers and hauliers to digitise payments and collections at Yang Kee’s two container depots in Tuas—Pacific Trans and Container Connections.

An estimated 1,000 drivers are expected to eventually benefit from using the DBS P-Card as DBS and Yang Kee engage haulage companies that use Yang Kee’s container depots.