Payment24, an international fuel payment system developed in South Africa, will be available to one of the leading oil companies’ customers on their smartphones, allowing them to quickly and easily pay for fuel at over hundreds of filling stations across the country. Soon after Payment24 mobile fuel payment app is will be rolled out internationally.
The move will position the Payment24 as a pioneer in mobile-based customer convenience in Africa, allowing the Oil Companies and Fuel Card Issues like banks, to enhance efficiencies, reduce the risk of losses due to incorrect grades of fuel being billed, and eliminate the risks of payment fraud or errors at the pump.
The app also positions the company to enhance its ‘know your customer’ initiatives and lays the foundation for mobile-based loyalty programmes, promotions and referral programmes.
For motorists, the new app will offer simpler, more secure payment at the pump. Using the app, motorists are geolocated at the filling station and simply input the pump number to authorise filling up and payment.
Limits can be predetermined, and businesses can manage their fuel spend for their employees and vehicles from a single dashboard, allowing the account owner to track and manage fuel expenses. Payment24 mobile fuel payment app can also be used by consumers and multiple family members
The joint CEOs of Payment24, Shadab Rahil and Nolan Daniel, says the Payment24 platform has gained significant traction in the market and is in use by major fleet owners and organisations across Africa and abroad. In South Africa alone, Payment24 is being rolled by 2 of the major Oil companies
“Expanding on our growth in the fuel and transport sectors, our partnership with oil companies and bank, takes the advanced payment solution to the mobile phones of consumers and small business owners for the first time,” says Rahil.
“South African consumers and small business owners can now use this advanced fuel management and payment solution to reserve funds for fuel, speed up the payment process, control and track fuel expenditure by family members and employees, manage accounts and generate logs. In our pilot projects, customers reported a significantly improved experience and said they appreciated not having to hand over credit or debit cards or carry cash for fuel purchases,” he says.
One of the major factors that sets Payment24 apart is that banks, petroleum companies and other major app providers can embed the white label SDK within their existing mobile app, with no specialised infrastructure required. “The mobile app reduces the cost and complexity of managing payment terminals on the forecourt, cuts the cost per transaction, enhances payment security and reduces time at the pumps,” says Daniel. “In addition, by ensuring only the correct grade of fuel is authorised, petrol grade errors – traditionally a significant expense item – are reduced. And because the platform is so convenient, app users tend to return to the same petroleum brand time and again.”
Fintech Summit 2018
As different apps are set up to ensure consumers needs are met with a touch of a button, CIO East Africa has organised a Fintech Summit slated for 29th and 30th May in Nairobi Kenya to really breakdown what Financial Technology really is and how as a startup or a SME you can alleviate your consumer needs. Click here for more details.
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