Petronas eyes 70pc cashless transactions at petrol stations by 2019

Aadrin said currently, 60 per cent of the transactions at Petronas stations nationwide were in cash, and the rest via credit cards. — Reuters picAadrin said currently, 60 per cent of the transactions at Petronas stations nationwide were in cash, and the rest via credit cards. — Reuters pic, July 5 — Petronas Dagangan Bhd (PetDag) hopes that cashless payment will make up to 70 per cent of the total transactions at Petronas stations by 2019, up from the current 40 per cent.

Retail Business Division Head, Aadrin Azly, said cashless transactions in many countries had accounted for up to 80 per cent of the total volume, to-date.

“We are definitely heading towards that,” he told reporters after the launch of the collaboration between Petronas and mobile payment Pay, here today.

Also present was PetDag Managing Director/ Chief Executive Officer, Datuk Mohd Ibrahimnuddin Mohd Yunus.



Under the collaboration, Petronas will be the first oil company in the country to accept contactless payment in over 1,000 stations nationwide.

The initiative is part of PetDag’s commitment to enhance customer experience by providing speed and ease of transaction at the stations.

Aadrin said currently, 60 per cent of the transactions at Petronas stations nationwide were in cash, and the rest via credit cards.

On the collaboration with Samsung Pay, Aadrin said, the company hoped that the mobile payment’s penetration rate would account for about five to 10 per cent of the total transactions during the initial stage.

“Ultimately, we believe it can go up to 50 to 60 per cent (of the total transactions), as it is an easy and secure payment method,” he said.

He did not discount the possibility of working together with other cashless payment companies, such as Touch ‘n Go Sdn Bhd (TnG) and ’s Alipay in the future. — Bernama

Source: The Malay Mail Online








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