Payment24 has launched FastLane, bringing contactless, cardless and secure fuel payments to the market. FastLane is described as ‘biometrics for the vehicle’.
Payment24 says the system instantly identifies any vehicle enrolled in the system as it drives into the forecourt, and then authorises refuelling and automates payment. The solution is designed to allow petroleum companies and organisations to improve service and efficiency, and reduce the risk of fraud.
The FastLane system uses cameras and artificial intelligence to detect a vehicle’s registration number, make, model, colour and type as it drives into the fuel station. This data is sent to the Payment24 cloud, and if the vehicle is registered in the system, refuelling could be pre-authorised or a push notification can be sent to the FastLane companion app for driver verification and authorisation.
The pump will release the fuel allocation and payment will be deducted automatically, with a receipt sent via the app. As a business-to-customer solution, the registered driver will authorise refuelling and payment, but the system also allows fuel allocations and payment to be controlled by fleet owners and industrial fuelling station owners, in order to reduce the risk of theft and fraud.
Payment24 CEOs Shadab Rahil and Nolan Daniel say FastLane adds another layer of security to Payment24’s portfolio of more than 20 fuel and fleet management solutions.
It offers service station owners, fleet managers and even individual consumers greater efficiency and a better refuelling experience, with the added advantage that drivers and petrol attendants do not have to touch cards or keypads in order to make payments during the Covid-19 pandemic.
“We are advancing to a stage in which the vehicle becomes the payment mechanism, taking away the time and effort that was traditionally needed to refuel a vehicle,” says Daniel.
“Using advanced algorithms and artificial intelligence, we have made ‘paying by car’ a lot faster and more secure than using something like a fleet card. It’s the gateway to a world of cashless transactions, real-time visibility, and satisfied customers.”
Built for conditions across Africa, the smart FastLane solution is light on energy requirements and can run offline, says Payment24. "You don’t need constant connectivity to approve transactions, which is perfect for mines with limited connectivity, and in rural fuel stations across Africa,” says Rahil. He adds that FastLane offers a number of other benefits.
“For fuel stations, the benefits include more sophisticated, faster service and a better customer experience. “By fast-tracking authorisation and payment, they can move vehicles off the forecourt much faster and accommodate more customers.
“Our smart technology also supports analysis – fuel station management can use the data for assessing factors like traffic patterns, dwell time, repeat visits and customer behaviour to help improve logistics and operations.”
Payment24 operates in seven countries in Africa, with a strong partner network in Ghana, Namibia, Botswana and Nigeria, as well as the UAE, and a footprint in Europe and the US.