Technology helps companies with large fleets cut down on fraud at the pumps

Business Day Reports that Payment24 has a quarter of SA’s filling stations signed up to use its app. Shadab Rahil, co-CEO of the Cape Town-based start-up, told Business Day that about 1,200 of the roughly 5,000 service stations in the country facilitated payments using the app. Four oil companies — Engen, Caltex, Shell and BP — had signed with the company, which piloted its service in 2015. The app was launched partly to curb fraud and theft in the transport industry, since companies with large fleets of vehicles tended to overpay for fuel, Rahil said. In many cases, fleet operators spent 15% more on fuel because of fraud, sometimes as a result of collusion between drivers and petrol attendants, or credit-card malpractice.

Altitude Advisory International support this new technology in the Fuel Retail Sector and have seen significant benefits for both the Fuel Retailers and the Fleet Management companies. Altitude have developed our own Digital Solution customised for the African market, outside of South Africa, taking into consideration some specific requirements that are only prevalent in other regions, such as Zambia, Zimbabwe etc.

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