Mumbai, Maharashtra, India:
Indian Oil Corporation Limited, India’s flagship nationwide vitality main, has collaborated with Fiserv, Inc. (NASDAQ: FISV), a number one international supplier of funds and monetary companies expertise options, to reinforce buyer cost experiences and streamline its operations. IndianOil prospects can now pay with their alternative of a number of cost platforms by way of sensible POS terminals deployed at over 15,000 IndianOil retail gas shops throughout the nation, seamlessly redeem loyalty factors, and scale back their wait time on the gas outlet.
Through the Carat working system from Fiserv, IndianOil has entry to a cloud-based platform that permits the processing of debit playing cards, bank cards, FASTag-enabled funds, QR funds, Unified Payments Interface (UPI) on the spot real-time funds, and digital wallets. IndianOil shops nationwide are seamlessly linked with Fiserv for acceptance of digital funds and IndianOil loyalty schemes, XTRAREWARDS and XTRAPOWER, enabling prospects to redeem loyalty factors for gas purchases. This integration will profit IndianOil with superior analytics and reporting, and environment friendly and exact reconciliation.
Shri Sandeep Makker, Executive Director (Retail Transformation), IndianOil, mentioned, “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.”
Speaking on this partnership, Kunal Gothivarekar, Head of Merchant Acceptance at Fiserv in India, mentioned, “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.”
Carat from Fiserv is the unified, easy, international working system that permits funds wherever and anytime, optimizes commerce throughout channels, and delivers embedded finance in ways in which create new buyer experiences. Shifting client habits and speedy adoption of recent applied sciences are remodeling how shoppers interact with companies. Carat helps companies lean into this transformation and construct extra participating experiences by connecting commerce throughout digital and bodily settings.
About Indian Oil Corporation Limited
IndianOil is a diversified, built-in vitality main with presence in nearly all of the streams of oil, fuel, petrochemicals, and various vitality sources. With a internet revenue of Rs. 24,184 crores for the fiscal 2021-22, IndianOil is among the largest and most trusted corporates within the nation, touching the lives of over a billion Indians. With a 33,500-plus workforce, in depth refining, distribution & advertising and marketing infrastructure, and superior R&D services, IndianOil has supplied vitality entry to thousands and thousands of individuals throughout the size and breadth of the nation by way of its ever-expanding community of buyer touchpoints, presently numbering over 50,000.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) aspires to maneuver cash and data in a means that strikes the world. As a world chief in funds and monetary expertise, the corporate helps shoppers obtain best-in-class outcomes by way of a dedication to innovation and excellence in areas together with account processing and digital banking options; card issuer processing and community companies; funds; e-commerce; service provider buying and processing; and the Clover® cloud- primarily based point-of-sale and business administration platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been acknowledged as considered one of FORTUNE World’s Most Admired Companies® for 11 of the previous 14 years and named among the many World’s Most Innovative Companies by Fast Company for 2 consecutive years.
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