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Monday, June 20, 2011

EasyFuel unveils e-payment solutions

EasyFuel Limited has unveiled electronic payment (e-payment) solutions for the nation’s downstream oil and gas sector.

The Managing Director, EasyFuel Limited, Mr. Tayo Olajide, said in Lagos that his firm has three e-payment products for the downstream sector, namely the eGO also known as SmartCard, Speedpass and Sprint.

He noted that the integrated e-payment solutions have the potential of modernizing payment system in the sector.

According to him, these products could eliminate the use of cash in buying petroleum products at filling stations across the country, stressing that the company’s initiative was in line with the global trend which is increasingly shifting towards cashless solutions.

“Our belief at EasyFuel is that Nigeria cannot be an exception in adopting global standards. All around the world, there is a gradual shift towards cashless payment systems because of the various challenges that go with cash transactions,” Olajide said.

He pointed out that with these solutions on offer, what a customer needs to purchase fuel is nothing but a bank card or any of EasyFuel’s proprietary e-payment products which may be installed in the vehicle or issued as contactless fobs.

The EasyFuel system, he also said, accepts bank-issued ATM Debit and Credit cards thereby enabling customers to pay for their fuel electronically from their current or cheque bank accounts.

For those who cannot entrust their drivers with their ATM cards, he said, Speedpass comes in handy.

“Speedpass is a contactless device that is waved in front of a contactless reader at the pump at the filling station to initiate a transaction,” he said, adding that with the Speedpass, customers could set pre-determined limits on how much a vehicle could refuel, how often and on what kinds of products and services, during what period of time.

He explained that the Sprint product offers the highest level of control and accountability for fleet managers.

“The Sprint is a smart Radio Frequency Identification (RFID) device, which is installed in a vehicle and works by identifying the vehicle to the EasyFuel system,” he said.

Additionally, he said it provides vehicle information such as fuel type and tank capacity, vehicle registration number, personal account number, fuel grade and permissible volume, minimum distance between refueling and incremental odometer and hour meter readings.

He underscored that through a web portal, fleet owners have access to transaction information per vehicle thereby enabling them real time visibility on fueling cost per car and eventually generate reports for planning purposes.

“Sprint also comes fitted with Global Positioning System (GPS) module which enables asset tracking,” he said.

Olajide further outlined some of the benefits of these products to include they guarantee convenience and control while they eliminate cash in transactions at the filling stations.

Customers, he said, would no longer be cheated by their drivers while it is a new dawn for fleet managers, who no longer have to worry about fuelling fraud and report generation.

He further urged companies, especially fleet companies to take advantage of these products in management of their vehicle fuel consumptions.

Remmy Nweke:
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Dominic said...

This E-payment solution, like the filing of form 2290 on the net gives people freedom to not spend the luxury that is time.

Isabel said...

The GPS tracking along with the E-pay solution can make driving the highways easier.
car tracking