PVOIL and MoMo co-operate for cashless payment of petrol
PVOIL and MoMo co-operate for cashless payment of petrol
Drivers in Viet Nam will be able to buy products from PetroVietnam Oil Corporation (PVOIL) using their mobile with the e-wallet service provider MoMo from November 1.Targeting a doubling of cashless payments over the next six months, PVOIL on October 23 signed a strategic co-operation with MoMo to provide a new payment solution for PVOIL customers and also in line with a government resolution promoting cashless payments for public services.
Accordingly, from October 27 customers in Ha Noi and HCM City can pay for oil and gasoline at PVOIL and COMECO petrol stations through the MoMo app. Then the payment will be applied nationwide on November 1.
The partnership is aimed at boosting cashless payments in line with the Government’s Resolution 02, dated January 1, 2019, to promote noncash payments for public services.
“Currently, PVOIL sells some 5,000 cubic metres of fuel per month with noncash payments by scanning QR codes,” said PVOIL General Director Cao Hoai Duong. He expecting the figure to increase to 10,000 cubic metres in the next six months thanks to the rising number of customers opting to make payments with the MoMo app.
In February 2018, PVOIL launched the PVOIL Easy program, offering firms the noncash payment method at its petrol stations, using the QR Code scanning system. Some 80 per cent of PVOIL’s corporate customers have switched to the easy noncash payment method.
As one of Viet Nam’s leading fuel traders in Viet Nam, PVOil runs over 3,000 gas stations nationwide, accounted for 20 per cent of the market.
With the cooperation, customers who use MoMo e-wallet to pay for petrol and oil at PVOIL and COMECO petrol stations nationwide will receive a 50 per cent refund (not exceeding VND30,000, equivalent to about 1.5 litres of gasoline).
To pay with MoMo e-wallet, customers use the function "Scan code" and scan QR Code provided by the staff of PVOIL and COMECO.
