You may soon pay for your petrol/diesel through BHIM UPI

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          NPCI has kick-started a major LessCash Drive in 2500 fuel stations spread across India’s 100 Smart Cities.

The primary aim of this Drive is to motivate the Oil Marketing Companies customers to pay for their fuel through BHIM UPI and cards.

          The secondary aim is to increase the share of digital transactions vs cash transactions at the targeted fuel stations.

          Both   UPI VPA and Card POS terminals are open based, i.e payment via UPI or at Card POS terminals can be done with any participating bank account card and not locked to any respective bank account.

          The Fuel Pump owner can have an account with any UPI Acquirer Bank, it does not matter to the paying customer.

Similarly, the fuel pump owner can have a POS terminal of any card acquiring bank.

NPCI to promote   BHIM UPI and RuPay may offer additional CashBack to customers routing their payments through BHIM UPI or RuPay.

Of course, other 3rd party UPI APPS may up the game with a higher CashBack. In the long run, as ‘Safe Digital Transactions’ zoom, the payment channel does not matter.

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NPCI has collaborated with Oil Marketing Companies to enable cash-less transactions at fuel stations across locations. More than 2500 retail outlets in 100 smart cities will be covered for promoting digital payments through BHIM UPI and cards
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Oil ministry data showed that 18,852 outlets were added between 2011 and 2017

Of the 60,000+ fuel stations in India, 55,000+ are owned by State owned oil marketing companies.

India Oil Corp (IOC) owns and operates 26,489 petrol stations.  Hindustan Petroleum Corp Ltd (HPCL) is the second biggest fuel retailer with 14,765 outlets. Bharat Petroleum Corp Ltd (BPCL) owns 14,161 outlets.

Private sector too operates fuel stations and the major players are Reliance Industries with  1,400 outlets followed by  Royal Dutch Shell with  90 outlets.

All the Oil Marketing Companies have their own Perpaid Cards, which offer Loyalty Programs to the participants.  These Prepaid cards are primarily targeted at Fleet Operators.

However, there is a still a vast market to be tapped for ‘Safe Digital Transactions’, at fuel stations.

Additional Reading:
01) Government clears safety doubts on mobile phone use at fuel pumps




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