With the new way to pay for fuel in the country via fingerprints, cash payments, credit and debit cards and even payments via mobile phones will soon be a thing of the past. Indian Oil Corporation Limited (IOCL), leading fuel retailers in India have set up Micro-ATMs at fuel stations.
The company has entered into an agreement with Oxigen Micro Agency and IDFC Bank for this purpose. Two such IOCL outlets in Bhopal already have these new ATM machines installed, while the facility is set to be extended to other fuel stations across the country.
These new machines make payments via cash and card redundant and bring in a more convenient and timely payment facility via biometrics with a quick thumb impression completing the payment facility. Oxigen Micro ATM is a Point of Sale machine as is used for debit and credit card transaction.
While these machines can accept card, UPI, BIM Aadhar pay and Bharat QR code, motorists can also fuel their vehicles and pay through thumb impressions. IOCL is also planning to introduce self service fuel stations in the country. These fuel dispensers will be imported and the first such petrol pumps will be introduced in Bhopal allowing users to fill up their fuel tanks after making payments.
This cashless transaction system will ensure quicker service at fuel pumps by reducing the long queues. These long queues are particularly seen during peak traffic hours when fuel stations are even more crowded.
This gets even worse when the pump attendant has to go off to swipe the debit/credit card on a machine. A quick thumb impression and payments will be effected without even reaching for money or a card.