Gothivarekar intends to build on partnership and introduce additional innovations
Fiserv, Inc. (NASDAQ: FISV) is to enhance customer payment experiences and streamline operations at the Indian Oil Corporation Limited’s (IndianOil) over 15,000 retail fuel outlets across the country.
Through the Carat operating system from Fiserv, 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.
IndianOil 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, as well as efficient and precise reconciliation.
“The partnership with Fiserv will amplify our variety of payment solutions,” said Sandeep Makker, Executive Director (Retail Transformation), IndianOil.
“We are confident that this partnership will further accelerate the use of digital payments at IndianOil retail outlets through an enhanced payment experience.
“As one of the largest fuel retailers in the country, we aim to offer a world-class experience to customers at our retail outlets,” Makker said on 1 Sept 2022.
“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,” elaborated Kunal Gothivarekar, Head of Merchant Acceptance at Fiserv in India.
“Fiserv is committed to providing an enhanced payment experience for IndianOil at each of their outlets. We intend to build on this partnership through the introduction of additional innovations.” Gothivarekar,
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. Carat helps businesses lean into this transformation and build more engaging experiences by connecting commerce across digital and physical settings.
Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been recognized as one of FORTUNE World’s Most Admired Companies® for 11 of the past 14 years and named among the World’s Most Innovative Companies by Fast Company for two consecutive years. fiinews.com
