Nigeria: Oando To Implement New Payment Solution

Oando Marketing Limited has announced plans to pioneer on 1st October, 2009, a new electronic payment solution called “PAYDirect” for Dealers of its over 500 retail service stations nationwide.

PAYDirect is an on_line real time service targeted mainly at Oando Marketing Ltd (OML) cash paying dealers nationwide. Once introduced, PAYDirect will drastically reduce the time it takes to confirm payment for products from about 24 hours to a few minutes via instant notification of all payments into participating banks allowing for immediate shipping of products from any of OML’s over 20 fuel and lubricant storage locations direct to the paying customer’s site.

This initiative was conceptualized from the need to improve product supply chain management and boost the efficiency of the company’s retail outlets, thereby guaranteeing petroleum products availability across all Oando service stations nationwide.  This service will be powered by InterSwitch.

This solution will provide the Dealers of Oando Marketing the following benefits: Faster processing and release of products to dealers as a result of immediate tracking of payment, Online real_time accounts status and tracking of payments made anywhere across the country ,Availability of historical reports of transactions for easier reconciliation, Elimination of bank confirmation for payments made to any of OML’s accounts.

Commenting on the initiative, Mr. Ayo Ajose_Adeogun, Chief Operating Officer, OML said, “As a customer_focused organization, we continually reinvent our processes to ensure excellent service delivery to stakeholders. The PAYDirect solution offers OML a 24 hour reduction in the typical order_to_delivery cycle for all our products regardless of the delivery point.

Oando Marketing Limited is the nation’s leading oil retailer, with one in every five litres of petroleum products being sold or distributed via Oando’s over 500 retail outlets and strategically located terminals whilst ensuring continuous products supply and availability in Nigeria and the West African sub region namely Ghana, Togo and Benin.

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