Bharat Petroleum Corporation (BPCL) has tied up with SBI, HDFC Bank and some other major banks to install point of sale (PoS) terminals apart from joining hands with Paytm, FreeCharge, Oxigen, Reliance Jio, SBI Buddy, and Fino for enabling mobile-wallet transactions at its retail outlets.
The company is expecting over 50 per cent of the retail transactions to be in cashless mode carried out through loyalty cards, debit/credit, e-wallets, or even NEFT etc. After the demonetisation announcement on November 8, non-cash payments have crossed 26 per cent at the companys pumps.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.