SINGAPORE - DBS on Thursday debuted a cashless purchasing card for logistics firms to make payments simpler, more accurate and hassle-free.
The bank estimated that each driver can save around 30 minutes per day on payment matters if the DBS P-Card is made available across all container depots in Singapore. Beyond the benefit of convenience, the DBS P-Card reduces drivers' and cashiers' exposure to bacteria and viruses from handling cash, providing added health and safety assurance especially during the ongoing Covid-19 situation, the bank added.
Singapore has been ranked by the World Bank as Asia's top logistics hub for 10 years in a row, and the logistics sector accounts for about 7 per cent of Singapore's gross domestic product.