PetroTrade's Plus Card to fuel faster transactions
PetroTrade's Plus Card to fuel faster transactions
Petroleum Trading Lao Co Ltd (PetroTrade) and Banque pour le Commerce Exterieur Lao Public (BCEL) signed a Memorandum of Understanding in Vientiane on Monday to start a new customer service initiative called the ‘Plus Card'.
The MOU was agreed to after the two parties ran a nationwide trial of the Plus Card, an electronic payment card for fuel purchases, at Petroleum Trading Lao Co Ltd's petrol stations a few months ago.
The signing ceremony was attended by the Deputy Governor of the Bank of the Lao PDR, Mr Sonexay Sithphaxay, former Minister to the Government Office Mr Khamlouat Sitlakone, other senior officials and members of the business community.
PetroTrade representative Ms Chanthadom Meksavanh said the Plus Card gives customers the convenience of simply using an electronic swipe card rather than going through the hassle of making cash payments at PetroTrade's stations.
The convenience of the plastic cards will mean customers spend less time at the pump and more time getting to where they are going, she enthused.
“We decided to collaborate on the Plus Card project due to customer demand. Such services are already available in other countries, but this is the first time that customers in Laos have been able to use a card for fuel payments and other payments at PetroTrade's petrol stations,” BCEL Managing Director Mr Vanhkham Voravong said.
The collaboration between the two parties will modernise service systems and implement BCEL's business plan and strategy at the same time. It will allow the expansion of various services through upgrading to modern technology and equipment, he explained.
Ms Chanthadom added “This project is being implemented as part of the government's policy to facilitate payment via the banking system.” The automated, computerised payment system will make transactions much easier to record and track, and therefore greatly boost transparency, she said.
“This cooperative project will benefit both customers and us, as the two business operators.”
Company IT staffer Mr Southchay Phimmasy said “Some 5,000 to 10,000 cards will be issued next week, and we expect to issue about 15,000 cards by the end of this year.”
Another company official said customers who use ATM, Visa and MasterCard cards issued by BCEL can now pay for fuel and other products at PetroTrade petrol stations. Soon customers who use ATM, Visa and MasterCard cards issued by Phongsavanh Bank will be able to utilise a similar service at PetroTrade stations.
“We are currently preparing to launch such a service,” he said.
PetroTrade was established in 2008 with an initial investment of 75.6 billion kip. It operates petrol stations in rural areas that offer prices similar to those in large towns, with the aim of supplying fuel to rural farmers. It also supplies fuel to the mining, energy, transportation and construction sectors.
PetroTrade already operates more than 100 petrol stations nationwide, and plans to expand that number even further.
Last September the company was awarded internationally recognised certificates on quality control, environmental management systems, health and safety standards and occupational health and safety zones.
PetroTrade is involved in various community projects in Laos, providing sustainable building materials to local villagers, helping victims of natural disasters and donating food and other materials to schools and disabled people's associations.
vientiane times
