Coronavirus impact: Indian Oil ties up with Paytm to avoid cash transactions
Nidhi Singal March 24, 2020
Paytm and Indian Oil Corporation Limited (IOCL) has entered into a strategic partnership to enable digital transactions across its fuelling stations as well as LPG cylinder delivery ecosystem in the country. This partnership will allow IOCL customers to be able to book and pay for LPG cylinders on the Paytm app. This initiative of cashless payments for home delivery will help minimise the threat of spreading Coronavirus through currency notes.
Sajal Bhatnagar, Vice President - Paytm says, "IOCL through its LPG and fuel business has built one of the largest and most-visited retail networks in the country. With this partnership, Paytm and IOCL hope to digitise a network that reaches out to all corners of the country including rural and urban centres. This can be leveraged for extending various financial products and inclusion services to the under-banked population."
IOCL retail outlets will also carry Paytm's All-in-One payment services for acceptance of Paytm Wallet, UPI from all apps and Rupay Cards. IOCL's delivery executives will also carry the Paytm All-in-One Android POS device and All-in-One QR code to facilitate digital transactions at the time of delivery.
Paytm's POS machine will be integrated with Indane delivery application to enable digital recording and updating of cylinder delivery. It will generate an e-invoice or physical copy of the bill as well.
Paytm users can order their IOCL cylinder refills by tapping on 'Book a Cylinder' icon in the 'Other Services' section of the app. According to Paytm, the entire process requires minimal details and does not require to re-enter details on every purchase. Users only need to provide their consumer number or the linked mobile number along with the name of the Gas agency.
"We will keep on adding new use cases to our All-in-One QR code and All-in-One POS devices so that our users have the ease of making most payments from within our ecosystem. We are committed to increasing the share of cashless transactions in the country and contribute to the government's Digital India mission," Bhatnagar added. Previously, the company partnered with HP Gas to enable cashless payments.
To ensure customer, employee and channel patterns, all Indane delivery executives wear masks, gloves and are carrying Paytm All-in-One QR code to accept payments.