DFCC Bank launches value-added corporate credit card in partnership with Visa

DFCC Bank in partnership with Visa hosted its corporate clientele at the launch of its DFCC Visa corporate credit card on 23 January at the Hilton Colombo. The exciting launch was celebrated in the presence of almost 200 attendees, consisting of the Group Country Manager and several senior representatives of Visa, senior management from DFCC Bank and leading local corporate heads. 

DFCC Bank CEO Lakshman Silva addressing the gathering

Visa Group Country Manager for India and South Asia T.R. Ramachandran delivering the welcome address.

Visa Head Business Solutions India and South Asia Chavi Jafa presenting the many benefits of the Visa corporate credit card

DFCC Bank’s new corporate credit card provides an unbeatable proposition for companies to make payments more conveniently and with greater transparency, thus giving them better control to manage operational expenses effectively. Offering some of the best deals in the market, its benefits include enhanced security, accountability and better cash flow management, thereby reducing instances of fraud or misuse, which are key concerns for companies at all times and even more so when operating in tough macroeconomic conditions. 

DFCC Bank has ensured that with this card, companies can enjoy higher discounts on card programmes, which translate into greater savings in the long run. Considering that travel and entertainment expenses form a substantial proportion of company spend, using the DFCC corporate credit card is an economical way to please employees while simultaneously earning big savings offered on the card by vendors. Most often, these savings may not apply to non-corporate credit cards or cash payments. 

Online and card payments are highly common and employees expect to have corporate credit cards to make purchases on behalf of the company or for work related expenses. This is where DFCC’s category specific corporate credit cards come in use. The category specific credit cards such as the Fuel Card, Travel Card, Online Payment Card, Vendor Payment Card, Utility Payment Card, etc. can be distributed amongst employees depending on the need. The category specific cards, for example, for purchasing fuel, empowers companies to track spending of employees and processing spending becomes simpler at the end of the month. 

The DFCC corporate credit card offers even greater convenience with services such as consolidated statements for all cards and interactive e-statement to monitor monthly spend trends. Corporate customers can also enjoy an interest free credit period of up to 51 days, which can bring working capital benefits to companies. Users can also enable automatic monthly bill settlements on the card. 

Yet another key benefit is that the DFCC Corporate Credit Card can be integrated with DFCC iConnect; a state-of-the-art  payments and cash management solution as well as DFCC’s interactive eStatement, which provides a deeper and more interactive insight into the spending patterns, thereby enabling customers to enjoy a comprehensive and superior service experience. 

Commenting on the milestone, DFCC Bank CEO Lakshman Silva said: “We are pleased to add further value to our corporate banking customers with this value added DFCC Visa Corporate Credit Card which offers a whole host of benefits and convenience for corporate to streamline payments. DFCC has always been leading the fintech space in banking and this is yet another first by the bank to empower its corporate clientele by rendering their cash management process a smooth one while enhancing their employee relationship. Companies and senior executives who understand the value of a hassle-free and transparent cash management process will find this card packs all the benefits they look for in an ideal, versatile corporate credit card backed by Visa.”

Speaking on the occasion, Visa Group Country Manager for India and South Asia T.R. Ramachandran said “Visa Corporate Cards allow businesses to effectively manage their accounts payables, monitor and control business expenses and digitise payment processes, leading to better working capital management and cost savings, efficiencies and stronger compliance. We are delighted to partner with DFCC to bring this suite of products and services to their corporate and business clients.”

A dedicated 24/7 Call Centre is also accessible for corporate customers to have their queries attended to. Companies can also enjoy amazing value additions such as free travel insurance cover of up to $ 60,000; access to Visa Worldwide hotel, flight and restaurant deals; and integration with DFCC iConnect for a total business payments and cash management solution.