Fastlane, India’s first contactless fuel payment solution and an initiative of AGS Transact Technologies Ltd. (AGSTTL), a pioneer in retail fuel payments & automation, has announced a strategic partnership with Hindustan Petroleum Corporation Ltd. (HPCL). A new age solution, HP-Fastlane provides automatic vehicle identification (AVI) using RFID technology to deliver cashless payment solutions and bring efficacy in fuel management. The company aims to issue one lakh Fastlane fuel tags across Mumbai. Currently, there are 18 live HP-Fastlane pumps across Mumbai, Vashi and Thane which are opened for end-consumers by July 1. Subsequently, the company will install Fastlane solution across 200 HPCL outlets pan-India, in a phased manner.
Satish Zope, President, Petroleum Payment Business, AGS Transact Technologies, said: “As an established leader in the fuel retail transaction ecosystem, we have constantly strived to pioneer best-in-class and highly customised products spanning the value chain. Yet another breakthrough in our portfolio, Fastlane-enabled fuel stations will transform the fuel management process providing an enhanced consumer experience. We are delighted to partner with HPCL, a leading State-owned oil company and leverage their expansive network to install our unique technology. We are confident that Fastlane will find resonance amongst oil companies and fleet owners alike, bringing greater efficiencies and transparency.”
HP-Fastlane fuel solution can be accessed over web or through a HP-Fastlane mobile app, available on android & iOS platforms. It enables the customer to enroll the vehicle details and load money in the prepaid HP-Fastlane wallet as and when required. When the registered vehicle reaches an HP-Fastlane enabled petrol pump, the RFID ring fitted in the vehicle’s fuel tank will ensure just the right amount of fuel is dispensed, thus avoiding fuel proliferation. This technology caters to fleet owners and individuals.
Emphasizing the importance of this significant partnership, Mr. D.N. Krishnamurthy, Chief General Manager – West Zone, HPCL, stated: “As India’s leading oil and gas company it has been HPCL’s constant endeavour to embrace cutting-edge technological solutions to improve the customer’s experience while availing our products and services. The usage of HP-Fastlane, India’s first contactless fuel payment solution and an initiative of AGSTTL at our petrol pumps will increase efficiency and also enhance transparency by reducing service time and improving ease of the payment process by the customers.”
HP-Fastlane components are intrinsically safe and certified by the Petroleum Explosives & Safety Organisation (PESO) to be installed in hazardous area. HP-Fastlane not only allows fuelling of designated fleet vehicles and prevents fuel pilferage, but also brings convenience to the user and transparency in transactions thereby optimizing business operations. The application also sends notifications for timely fuel refill while simplifying the payment process through cashless and card less transactions.
How does it work?
- The customer downloads the HP-Fastlane app from Play store (Google or Apple) and enters the relevant details to enroll. He/she can also request the AGSTTL sales representative to complete the enrolment formalities in person at any participating HPCL fuel station.
- The customer can load money into the HP-Fastlane wallet through credit card / debit card / net banking and preset the amount of fuel he / she intends to buy.
- As the vehicle enters the station, vehicle and payment information is verified by the nozzle reader. This is done through Smart RFID Tag – a “contactless microprocessor-based smart ring / tag” installed in the vehicle fuel tank inlet.
- If the system is satisfied that it is an authorized vehicle, the pump receives reset authorization from cloud and fuelling will commence.
- After fuelling the driver can simply drive away without having to make payments through hard cash.