Nahimah Ajikanle Nurudeen
20 June 2011
Lagos — As part of efforts to ensure electronic transactions in all sectors of the Nigerian economy, EasyFuel Limited has unveiled range of contactless payment devices in the downstream Oil & Gas sector.
Speaking at the company’s inaugural press conference in Lagos, the Managing Director of the company, Mr. Tayo Olajide said the integrated e-payment solutions, which have the potential of revolutionizing payment system in the sector, were introduced out of the company’s initiative to place Nigeria in the comity of nations where the trend is increasingly shifting towards cashless solutions.
He said: “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. With these new solutions, 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.”
According to him, the new solutions, which are backed by a solid state-of-the-art technology, include three products – eGO Card, Sprint and Speedpass – and will eliminate the use of cash in buying petroleum products at filling stations across the country.
He explained that the EasyFuel system also accepts bank-issued ATM debit and credit cards thereby enabling customers to pay for their fuel electronically from their current/checking bank accounts.
Olajide said for those who cannot entrust their drivers with their ATM cards, Speedpass comes in handy as it 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 with the Speedpass, customers can set pre-determined limits on how much a vehicle can refuel, how often and on what kinds of products and services, during what period of time among others.
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Firm Launches New E-Payment Solutions for Oil and Gas