Drivers in Vietnam will be able to buy products from PVOIL using their MoMo e-wallet account from November 1. Photo courtesy of MoMo

Xuan Thinh Thứ Năm | 24/10/2019 19:56

Cooperating with MoMo, PVOIL aims to double cashless fuel sales

PVOIL plans to double petroleum sales through noncash payment channel over the next six months after singning a strategic partnership with e-wallet service provider MoMo.

PetroVietnam Oil Corporation (HoSE: OIL) on Wednesday signed a strategic partnership agreement with MoMo to provide a new payment method for PVOIL customers.

The partnership is aimed at boosting cashless payments in line with the Government’s Resolution 02, dated January 1, 2019, to promote noncash payments for public services.

PVOIL, which sells more than 5,000 cubic meters of fuel monthly with noncash payments by scanning QR codes, expects to sell 10,000 cubic meters in the next six months thanks to the rising number of customers opting to make payments with the MoMo app, said PVOIL President & CEO Cao Hoai Duong.

In February 2018, PVOIL launched the PVOIL Easy program, offering firms the noncash payment method at its petrol stations, using the QR Code scanning system. Some 80% of PVOIL’s corporate customers have switched to the easy noncash payment method.

PVOIL, one of Vietnam’s leading fuel traders, with a market share of 20%, runs over 3,000 petroleum stations nationwide.