PhonePe partners with IOCL to set up its PoS terminals

For the adoption of it’s indigenously designed Point of Sale (POS) device at IOCL retail outlets, digital payments entity PhonePe, has partnered with Indian Oil Corporation Limited (IOCL).

The partnership has allowed the customers to pay using UPI, credit and debit cards, PhonePe wallet and other external wallets like Jio Money & Freecharge for their fuel purchases, through the PoS device at 30 IOCL retail outlets in Bengaluru.

Pradeep Dodle, head of business, PhonePe said, “We believe that with this step we can accelerate the pace of digital payments adoption by consumers at fuel outlets across the country. This partnership is a validation of the potential of our PoS device to make the transaction process quick and seamless for millions of local merchants and customers in India. We are well on course to meet our target of installing a million POS devices across 50 cities in India in 2018.”