AGS TRANSACT TECHNOLOGIES INKS A STRATEGIC PARTNERSHIP WITH HINDUSTAN PETROLEUM CORPORATION LIMITED (HPCL) FOR INDIA’S FIRST CONTACTLESS FUEL PAYMENT SOLUTION

Mumbai, June 19, 2018: Fastlane, India’s first contactless fuel payment solution and an initiative of AGS Transact Technologies Limited (AGSTTL), a pioneer in retail fuel payments & automation today announced a strategic partnership with Hindustan Petroleum Corporation Limited (HPCL). A new age solution, HP-Fastlane provides automatic vehicle identification (AVI) using RFID technology to deliver cashless payment solutions and bring efficacy in fuel management.  The company aims to issue 1 lakh Fastlane fuel tags across Mumbai. Currently, there are 18 live HP-Fastlane pumps across Mumbai, Vashi and Thane which will be opened for end-consumers by 1^st July this year. Subsequently, the company will install Fastlane solution across 200 HPCL outlets pan India, in a phased manner.

Satish Zope, President, Petroleum Payment Business, AGS Transact Technologies Limited said, “As an established leader in thefuel retailtransaction ecosystem, we have constantly strived to pioneer best-in- class and highly customised products spanning the value chain. Yet another breakthrough in our portfolio, Fastlaneenabled fuel stations will transform the fuel management process providing an enhanced consumer experience. We are delighted to partner with HPCL, a leading state-owned oil company and leverage their expansive network to install our unique technology. We are confident that Fastlane will find resonance amongst oil companies and fleet owners alike, bringing greater efficiencies and transparency.”

HP-Fastlane fuel solution can be accessed over web or through a HP-Fastlane mobile app, available on android & iOS platforms. It enables customer to enroll their vehicle details and load money in the prepaid HP-Fastlane wallet as and when required. When the registered vehicle reaches anHP-Fastlane enabled petrol pump, the RFID ring fitted in the vehicle’s fuel tank will ensure just the right amount of fuel is dispensed, thus avoiding fuel proliferation. This technology caters to fleet owners and individuals.

Emphasizing the importance of this significant partnership, Mr. D.N. Krishnamurthy Chief General Manager West Zone HPCL stated, “As India’s leading oil and gas company it has been HPCL’s constant endeavour to embrace cutting-edge technological solutions to improve the customer’s experience while availing our products and services. The usage of HP-Fastlane, India’s first contactless fuel payment solution and an initiative of AGSTTL at our petrol pumps will increase efficiency and also enhance transparency by reducing service time and improving ease of payment process by the customers.”

HP-Fastlanecomponents are intrinsically safe and certified by PESO (Petroleum Explosives & Safety Orgnisation) to be installed in hazardous area. HP-Fastlane not only allows fueling of designated fleet vehicles& prevents fuel pilferage, but also brings convenience to user and transparency in transactions thereby optimizing business operations. The application also sends notifications for timely fuel refill while simplifying the payment process through cashless and card less transactions.

How does it work?

• Customer downloads the HP-Fastlane app from Play store(Google or Apple)and enters the relevant details to enroll. He/she can also request the AGSTTL sales representative to complete the enrollment formalities in person at any participating HPCL Fuel Station.
• The customer can load money in to the HP-Fastlane wallet through credit card/ debit card/ net banking and preset the amount of fuel he/she intend to buy.
• As the vehicle enters the station, vehicle and payment information is verified by nozzle reader. This is done through, Smart RFID Tag – a “contactless microprocessor-based smart ring/tag” installed in the vehicle fuel tank inlet.
• If the system is satisfied that this is an authorized vehicle, the pump receives reset authorization from cloud and fueling will commence.
• After fueling the driver can simply drive away without having to make payments through hard cash.

HP-Fastlane app is available for download on Google Play store and Apple App Store. HP-Fastlane Tags are available across 18 Fastlane enabled HPCL outlets. Interested customers can also call at toll free no.: 1800 266 3278 or visit www.fast-lane.co.infor further details.

About AGS TRANSACT TECHNOLOGIES LIMITED

Established in 2002, AGS Transact Technologies Limited (AGSTTL) is one of India’s leading end-to-end payment solutions provider with a wide spectrum of highly customised products instated with state-of-the-art technology for the Banking, Retail, Petroleum and Transit sectors. AGSTTL operates across 2200 cities and towns reaching out to over 2,00,000 customer touch points across India through its Group companies namely Securevalue India and India Transact Services and boasts of an impressive footprint in South East Asia.

Pioneering the change in financial technology space, our three major lines include Banking Automation Solutions, Banking Payment Solutions and Automation Solutions for the Retail, Petroleum and Colour sectors.

With over 9500 employees, round the clock customer service centers and manufacturing & warehousing units located in Daman, AGSTTL is committed to provide clear, credible and contemporary solutions to steer how India transacts.