Malaysia: Pilot Scheme For Cashless Payments at Petrol Stations

 Michael Lor, EON Bank’s head of group consumer banking said “We felt that ePetrol system was good and we explored the tie-up immediately. It is a good step to enhance the non-cash payment in Malaysia. It is something interesting.
We understand that the ePetrol system may even go beyond petrol… customers in future may even be able to use the system to pay for their cinema tickets and grocery bills,” Lor said.

ePetrol Holdings, established in 2003, is led by a team of industry experts and leaders from the oil and gas, payment, banking and smart-card industries.

EON Bank and ePetrol Holdings will have a two-month pilot run where 250 EON Bank customers will use their MyKad to pay for fuel purchases at designated BHP, Caltex and Dialog-owned petrol stations in Kuala Lumpur and Petaling Jaya.

Lor said this payment programme would eventually be open to all EON Bank customers. He added that merchants would like ePetrol system, as it was more cost efficient for them to collect payment. “Money is debited immediately for payment. It is more cost efficient. The cost for merchants using the ePetrol system is also lower compared to receiving payment through credit cards,” Lor explained.

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