Around 38% fuel purchases in the State are made through the digital mode
To encourage digital transactions, Indian Oil Corporation has introduced the option to make payments for fuel at its outlets through the Google Pay app.
The tie up with Google Pay also gives an opportunity to customers to get their cash back through the app, subject to terms and conditions. IOC’s loyalty program, Xtrarewards, will also be made available in some time.
Around 38% fuel purchases in the State are made through the digital mode, which is higher than the national average of 32%. At fuel outlets in the Chennai region, nearly 60% customers pay using digital modes, including credit/debit cards, followed by the Salem region with 40%, Tiruchi with 33%, Coimbatore with 31% and Madurai region with 23%.
Salem has a higher percentage of cashless transactions, since there are more inter and intra-State truckers in the region. Chennai and its surrounding areas lead with 60% digital transactions as there is more awareness among the residents and people find it easier than going to an ATM and getting cash, said a city-based fuel dealer.
S. Chandrasekaran, a dealer in Dharapuram, Tiruppur, said the local economy in the area was cash based, and the use of debit/credit cards too was limited. “If I get 300-500 customers a day, only five to 10 make digital transactions, and these are people whose accounts do not have cash or those whose cards did not work. People are afraid due to phishing issues too,” he said.
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