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E-wallets gain traction at fuel pumps as BPCL, Ola money tie up

Cab aggregator Ola’s mobile wallet, Ola money is now accepted at Bharat Petroleum Corporation Limited (BPCL) fuel pumps.

Published: 27th December 2016 01:23 AM  |   Last Updated: 27th December 2016 07:08 AM   |  A+A-

OLA_Reuters

Representational image. | Reuters

By Express News Service

CHENNAI: Cab aggregator Ola’s mobile wallet, Ola money is now accepted at Bharat Petroleum Corporation Limited (BPCL) fuel pumps and LPG distributors across the country.

With demonetisation, there is a special thrust to move towards cashless transactions and oil marketing companies widely adopting the use of mobile wallets are seen as a helping too. Earlier, Ola has also partnered with Hindustan Petroleum Corporation Ltd and Indian Oil Corporation Ltd, as have other wallets including PayTm and Freecharge.

Users can now pay for fuel with ‘Ola Money’ on Verifone enabled point of sale (PoS) devices in any of these fuel stations with a one-step mobile verification process. “The entire process of payment is exceptionally easy and convenient,” Ola Money  Senior Vice President Pallav Singh said in a statement. 

In addition to more than 13,000 petrol pumps, Ola money will also be accepted by nearly 4,500 LPG distributors across the country.  With the tie-up, both driver partners and consumers will be able to pay for their fuel and LPG requirements with Ola Money, the statement said.

With the increased recharge limit on wallets from Rs 10,000 to Rs 20,000 until December 30, Ola Money is better positioned to facilitate convenient cashless transactions for citizens and merchants alike, the statement said.

Ola Money is accepted at over 500 online and offline merchants, as well as for bill payments at over 25 major utilities across India, it said. 

BPCL sees cashless payments hitting 50% 

Bharat Petroleum Corporation Ltd (BPCL) on Monday said cashless transactions at its outlets have jumped to 26% after 8 November when high value notes were banned, from 10% time before and expects at least half of all transactions to turn cashless by March.

Retail sale of oil products—petrol, diesel, CNG/PNG and LPG—in volume terms account for around 7.3 trillion transactions per annum, according to BPCL.

“We hope by end March, all the state-run oil marketers expect over 50% of the retail transactions to be in cashless mode carried out through loyalty cards, debit/credit, e-wallets, or even NEFT etc. After the demonetisation announcement on 8 November, non-cash payments have crossed 26% at our pumps,” BPCL executive director (retail) George Paul said. 



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