Indian Oil Corporation Limited has collaborated with Fiserv, Inc. to enhance customer payment experiences and streamline its operations. IndianOil customers can now pay with their choice of multiple payment platforms through smart POS terminals deployed at over 15,000 IndianOil retail fuel outlets across the country, seamlessly redeem loyalty points, and reduce their wait time at the fuel outlet. Through the Carat operating system from Fiserv, IndianOil has access to a cloud-based platform that enables the processing of debit cards, credit cards, FASTag-enabled payments, QR payments, Unified Payments Interface (UPI) instant real-time payments, and digital wallets.

IndianOil outlets nationwide are seamlessly connected with Fiserv for acceptance of digital payments and IndianOil loyalty schemes, XTRAREWARDS and XTRAPOWER, enabling customers to redeem loyalty points for fuel purchases. This integration will benefit IndianOil with advanced analytics and reporting, and efficient and precise reconciliation. Carat from Fiserv is the unified, simple, global operating system that enables payments anywhere and anytime, optimizes commerce across channels, and delivers embedded finance in ways that create new customer experiences.

Shifting consumer habits and rapid adoption of new technologies are transforming how consumers engage with businesses. Carat helps businesses lean into this transformation and build more engaging experiences by connecting commerce across digital and physical settings.