Home Finance Payment24 introduces ‘vehicle biometrics’ to fast track refuelling

Payment24 introduces ‘vehicle biometrics’ to fast track refuelling

by Business News Report

Fuel management and payment solutions specialists Payment24 have launched a new module in their comprehensive solutions suite, bringing contactless, cardless and secure fuel payments to market. Payment24’s latest innovation, FastLane, is described as ‘biometrics for the vehicle’ which instantly identifies any vehicle enrolled in the system as it drives into the forecourt, and then authorises refuelling and automates payment. The solution is designed to allow petroleum companies and organisations operating their own fuelling homebases to improve service and efficiency, and reduce the risk of fraud.

The FastLane system uses cameras and artificial intelligence to detect a vehicle’s registration number, make, model, colour and type as it drives into the refuelling station. This data is sent to the Payment24 cloud, and if the vehicle is registered in the system, refuelling could be pre-authorised or a push notification can be sent to the FastLane companion app for driver verification and authorisation. The pump will release the fuel allocation and payment will be deducted automatically, with a receipt sent via the app. As a B2C solution, the registered driver will authorise refuelling and payment, but the system also enables fuel allocations and payment to be controlled by fleet owners and industrial fuelling station owners to speed up processes and reduce the risk of theft and fraud.

Payment24 CEOs Shadab Rahil and Nolan Daniel report that FastLane adds yet another layer of security to Payment24’s portfolio of over 20 fuel and fleet management solutions. It offers service station owners, fleet managers and even individual consumers greater efficiency and a better refuelling experience, with the added advantage that drivers and petrol attendants do not have to touch cards or keypads in order to make payments during the Covid-19 pandemic.

Says Daniel: “We are advancing to a stage in which the vehicle becomes the payment mechanism, taking away the time and effort that was traditionally needed to refuel a vehicle. Using advanced algorithms and artificial intelligence, we have made ‘paying by car’ a lot faster and more secure than using something like a fleet card. It’s the gateway to a world of cashless transactions, real-time visibility, and satisfied customers. Payment24 FastLane is a way to distinguish yourself, giving customers peace of mind and building loyalty with them.”

Built for conditions across Africa, the smart FastLane solution is very light on energy requirements and can run offline. Rahil notes: “You don’t need constant con

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