IndianOil improves payment experience with Fiserv

IndianOil

Mumbai: State-owned IndianOil has collaborated with Fiserv, Inc. to enhance customer payment experiences and streamline its operations.

IndianOil customers can now pay with multiple payment platforms through smart POS terminals deployed at over 15,000 IndianOil retail fuel outlets across the country, seamlessly redeem loyalty points, and reduce their wait time at the fuel outlet.

Through Fiserv’s Carat operating system, 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. Fiserv is a global leader in payments and financial technology company.

The company’s outlets nationwide are seamlessly connected with Fiserv for acceptance of digital payments and IndianOil loyalty schemes, XTRAREWARDS and XTRAPOWER, enabling customers to redeem loyalty points for fuel purchases. This integration will benefit IndianOil with advanced analytics and reporting and efficient and precise reconciliation.

“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 Sandeep Makker, ED (Retail Transformation), IndianOil.

Fiserv is committed to providing an enhanced payment experience for IndianOil at each of their outlets. 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. We intend to build on this partnership through the introduction of additional innovations.” said Kunal Gothivarekar, Head of Merchant Acceptance – Fiserv in India,

Carat from Fiserv is the unified, simple, global operating system that enables payments anywhere and anytime, optimizes commerce across channels, and delivers embedded finance in ways that create new customer experiences. Shifting consumer habits and rapid adoption of new technologies are transforming how consumers engage with businesses.

It helps businesses lean into this transformation and build more engaging experiences by connecting commerce across digital and physical settings.

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