Everyone knows about paying for fuel with cash, credit, debit cards, and now even phones. But have you heard about paying with finger print for fuel in India? No. Indian Oil Corporation Limited (IOCL), one of the leading fuel retailers in India, has set up Micro-ATMs at fuel stations.
To server the purpose, IOCL had to collaborate with Oxigen Micro Agency and IDFC Bank. The first two IOCL outlets to have these new ATM machines installed are in Bhopal. Later on, the facility is planned to be extended to other fuel stations across the country.
These new machines come up with the traditional cash and card payments, with an additional and convenient payment facility via biometrics with a quick thumb impression for the payment facility. Oxigen Micro ATM is a Point of Sale (PoS) machines similar to the ones used to transact using credit and debit cards.
The new technology will allow IOCL to introduce self-service fuel stations in the country. The company will import such fuel dispensers and the first petrol pumps will be introduced in Bhopal. People will be able to fill up their tanks only after making payments.
No doubt, the cashless transaction system will make payment services quicker at fuel pumps and reduce the queue size. The long queues are prominent during the peak traffic hours when fuel stations are even more crowded.
To worsen the situation, the pump attendant has to leave the pump for swiping a debit/credit card on a machine. In such a situation, a quick thumb impression will soothe the process and save a lot of time.