As part of efforts to maximise opportunities for companies seeking seamless business commuting, Bolt has streamlined its company credit or debit card payments for all Bolt Business customers.
Kwaku Ampadu-Manu, Country Manager Bolt Business, took time to shed more light on this innovation that promises greater convenience for business riders on the Bolt platform:
What gap in the market did you identify that made this the ideal product for businesses?
From the parts of the various cities where we recorded movement, especially during work hours, we noticed that a lot of these were business trips. These represented an opportunity for businesses owners, riders, and drivers. Employees of signed-up companies no longer need to render accounts for reimbursement when they go on official trips across any of the eight cities in Ghana where Bolt operates. After taking a Bolt Business trip and upon arrival, the trip will be charged to the company’s account and the rider will alight without having to pay with physical cash.
This means that employees can book rides on the company’s account and keep track of routes and expenses on business travel. On their regular Bolt app, they just need to switch the payment method to the business account for official trips.
How does this serve drivers, especially since most are not keen on receiving card payments?
The Ghanaian market is becoming a lot more welcoming to debit and credit card payments. Unfortunately, we find that this uptake isn’t happening quickly among our Bolt drivers. To some extent, I see where they’re coming from, where they have to buy fuel with cash. However, we know the benefits for the recipient where card payments are concerned: security from carrying less cash, instant payment, and quick reconciliation of accounts.
As an incentive, divers have and will continue to receive a rebate of GHS 2 for every card trip that they complete as an incentive to welcome riders who pay by card. In effect, the drivers are being paid with each card payment.
How do businesses benefit from this initiative?
We know of instances where riders have taken a trip on official business and have either forgotten to claim reimbursements or they feel the amount is too small to make a claim for. With the direct payment from the company’s account, the rider does not even think about payment at all.
Bolt Business is making it convenient for riders, businesses, and drivers alike to make transportation around the city easy by removing the hurdle of employees’ pre-financing trips. This process allows them to pay the driver instantly from the company’s bank card.
Businesses are also able to monitor their transport expenditure, track movements of staff on official business, order multiple rides, and to make transport expenditure simpler.
What is the signing on process?
Companies that wish to sign up for this service should reach out to [email protected] to sign up or to have any queries answered. When completed, employees will receive a notification from Bolt that company payments are activated on their phones.
To take an official trip, the rider just needs to switch to the company’s name under the “Payments” tab before requesting the trip. Watch a demonstration of the service here.
Expressing his optimism about the move, David Kotei, Country Manager for Bolt Ghana, revealed that this was a win-win for all parties involved. “We’re excited about the cash-lite opportunities that this initiative from Bolt Business gives us,” he said. “We recognise that this is a bit of a disruption to what some drivers are used to. However, we have seen the benefits of card payments not only in other Bolt markets, but in other industries right here in Ghana.
Bolt remains committed to making commuting around host cities convenient and inclusive for all.