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LPG firms push for e-payment; place orders for PoS machines

Last Updated 09 December 2016, 21:08 IST

 Now, oil companies are equipping distributors with e-wallets and mobile point of sale machines (im-PoS) to help LPG customers overcome problems of change.

The Union government has asked Indian Oil, Hindustan Petroleum and the Bharat Petroleum to ensure 50% cashless transactions by the end of this year. But this seems to be a daunting task as banks are unable to meet the increasing demand for PoS after demonetisation.

The three companies have together placed orders for 10,000 PoS machines and 3,000 im-PoS machines. There are 10,000 LPG distributors of IOC, Hindustan Petroleum Corporation and Bharat Petroleum Corporation in Karnataka of which 250 are in Bengaluru. There are at least 3,000 delivery boys in Bengaluru. A few distributors have PoS machines at their offices card transactions are limited. 

Assistant general manager (LPG), IOC, Abhijeet Dey said that by the next one week, all suppliers will be equipped with e-wallets to accept all types of payments.

The companies have tied up with private firms and apps like Free Charge and Mobikwik to provide quick and hassle-free services. The gas companies are also encouraging people to shift to online payments.

“There are many instances where maids or security guards receive cylinders in the absence of owners. In such cases, online payment is a better option,” he said.

Already 2.5 lakh customers use online payment options and now agencies are pressing for more. Also around 30 to 40% of customers pay through debit or credit cards.

SBI chief general manager (Bangalore Circle) Rajni Mishra said the bank has placed orders for over three lakh PoS terminals to meet the sudden spurt in demand.

“All oil dealers and LPG distributors are going for PoS machines. With the present demand, we should be in a position to instal around 10,000 to 15,000 PoS machines before March 31, 2017.”

State Bank of Mysore general manager Nemiraja H C said, “Till date, we have sold over 6,000 units of PoS machines. Seeing the spurt in demand, we have placed orders for 6,000 units and are expecting 800 units next week. LPG dealers will approach respective banks where they have an account.”

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(Published 09 December 2016, 21:08 IST)

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