Carviva Technologies Limited is set to unveil its digital fuel payment alternatives solution to address the connectivity issues with Point of Sales (PoS) terminals for transactions in filling stations across Nigeria.
With the solution, motorists can buy fuel via USSD or other omni-channels once they have a valid and active mobile phone number and do not need to carry cash or debit cards to buy fuel or gas in filling stations.
Carviva issues an e-Fuel token and security keys which the motorist receives via email or SMS and presents at participating filling stations.
Already, the fuel wallet is being test-run with a major downstream player and will be accepted at over 22 cities nationwide. The Carviva Fuel Wallet solution deployment is planned for commercial launch next month ahead of the Christmas holidays.
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Ayodeji Subair, founder and CEO of Carviva Technologies Limited, said the Carviva Fuel Wallet is the first step in revolutionising merchant-customer transactions in Nigeria’s petroleum energy business ecosystem as it aims to solve payment challenges often encountered by customers at fuel stations.
“Carviva Fuel Wallet is the future of digital fuel payments in Nigeria and Africa, our innovative solution is the first of its kind mobile phone virtual wallet and fully digitized OMNI channel for millions of car owners and filling stations,” he said
Subair added that it is a simple, safe and secure channel that reduces payment challenges and cash related problems, adding that some motorists as well as filling stations are usually skeptical to use POS terminals for payments due to transaction glitches and cases of fraud.
He said Nigerians spend about N2.2 trillion on PMS yearly as majority of the populace use cash as preferred fuel payment method which can be risky, adding that the solution also captures an addressable cashless user base twice the size of POS user base..
“Our partnership also brings cross-selling opportunities of telematic devices and genuine spare parts at our participating filling station outlets. Our API first approach implies that Fuel Wallet can easily be extended to new digital channels to drive increased sales, fuel volume and customer base for our partners,” he said.
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