The fuel retailer has partnered with Fiserv to deploy a series of smart POS terminals at over 15,000 service stations of the brand.
Indian Oil Corporation Limited has upgraded customer payment experiences options for customers at service stations. Thanks to partnering with payments and financial services provider Fiserv, drivers now have multiple payment platforms to choose when paying for services at sites and seamlessly redeem loyalty points to reduce their wait time at the station.
The oil company has deployed smart POS terminals at over 15,000 of its retail fuel outlets across the country. Through the Carat operating system from Fiserv, IndianOil has access to a cloud-based platform that enables the processing of debit cards, credit cards, FASTag-enabled payments, QR payments, Unified Payments Interface (UPI) instant real-time payments, and digital wallets.
“As one of the largest fuel retailers in the country, we aim to offer a world-class experience to customers at our retail outlets. The partnership with Fiserv will amplify our variety of payment solutions. We are confident that this partnership will further accelerate the use of digital payments at IndianOil retail outlets through an enhanced payment experience,” said Shri Sandeep Makker, Executive Director of Retail Transformation at IndianOil.
In addition, the new equipment provides acceptance of IndianOil loyalty schemes, XTRAREWARDS and XTRAPOWER. This enables customers to redeem loyalty points for fuel purchases, an integration that will benefit the company with advanced analytics and reporting, and efficient and precise reconciliation.
“Our innovative transaction processing system has been specifically designed to connect and integrate seamlessly with IndianOil systems, facilitating centralised reporting and analytics for better business management, while their customers benefit from a fast and convenient checkout experience,” added Kunal Gothivarekar, Head of Merchant Acceptance at Fiserv in India.
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