Shriram Transport Finance Company Limited Ltd (STFC) has inked a MoU with Hindustan Petroleum Corporation Ltd (HPCL) to offer credit based fuel filling services to its customers on digital platform.
STFC had been offering a host of products to its customers ranging from Commercial vehicle finance to tyre loans. Credit based fuel financing will enable customers to have an efficient way of purchasing auto fuels like diesel, petrol and lubricants at credit. It is an affordable low cost working capital solution to monitor and control fuel expenses. Fuel Finance service will be a cash/card free transaction.
The credit based fuel services will provide:
- Fuel credit limit to customers as per the capacity of the customers.
- OTP based platform for availing the benefits.
- Credit period of 15 to 30 days.
- Card/Cash less fleet fuel management system.
G S V Prasad, Executive Director- Retail, HPCL mentioned that the tie up will provide fuel to the customers with complete cashless convenience on pan India basis, along with loyalty rewards and insurance. The card less solution will enable the driver to carryout transactions at all Retail Outlets of HPCL without having to carry cash, which will help in supporting the ‘Digital India’ drive.