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IOC enters into partnership with PhonePe

Indian Oil Corporation (IOC) has entered into partnership with payments platform, PhonePe. The first-of-its-kind partnership is for adoption of indigenously designed Point of Sale (POS) device at IOC retail outlets.

As part of this partnership, customers can pay using Unified Payments Interface (UPI), Credit and Debit cards, PhonePe wallet and other external wallets like Jio Money and Freecharge for their fuel purchases, through the POS device at IOC retail outlets in Bengaluru.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

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