IndianOil to offer fuel credit digitally to STFC customers
The company will enable Shriram Transport customers to purchase IndianOil fuel and lubricants through its network of IndianOil retail outlets.
IndianOil has signed a MoU with Shriram Transport Finance Company (STFC) to extend the credit limit of STFC customers on purchase of fuel from IndianOil outlets.
"The additional feature of credit facility through partnership with STFC will go a long way towards meeting the aspirations and requirements for small truck operators. This is the Year of Digitalization at IndianOil and this partnership would enable the customers to have card-less and cashless transactions," said Executive Director (Retail Sales), IndianOil, Mr. Vigyan Kumar.
"IndianOil has been providing convenient, secure and rewarding fuel solutions through the XTRAPOWER loyalty programme for fleet customers. The patronage of our customers has made XTRAPOWER the largest loyalty program in the country," he added speaking about IndianOil's loyalty programme for fleet customers.
This credit facility is a low-cost working capital solution to monitor and control fuel expenses. The fuel finance service will be a cash/card-free transaction. “STFC envisions filling the gap in providing end-to-end finance solutions to its customers. Hence, through this tie-up with IndianOil, we are serving the small road transport owner (SRTOs) and first time owner (FTOs) that form more than 70% of our customer base, with low-cost working capital," said STFC MD and CEO, Umesh Revankar.
