Petrol pumps start offering 0.75% cashback discounts

Petrol pumps start offering 0.75% cashback discounts
MUMBAI: The city’s petrol pumps on Tuesday began to give 0.75% discount to all customers who buy petrol or diesel through cashless transactions. Sources said cashless payments now make up nearly 70% of all transactions at the 250 pumps in Mumbai.

“We have been getting more customers with credit or debit cards,” said a pump owner from Ghatkopar. “While we are willing to give loose change for cash, subject to availability in our kitty, most citizens prefer to pay by card,” he said.

Those coming in with Rs 2,000 denomination notes sometimes find it difficult to get change and switch to cards to pay. “This mostly happens with those coming in with bikes and scooters as they top up fuel for a lower amount. So in case they do not have the change, they pay by card,” said a pump operator from Mulund. The number of car and SUV owners who pay by card has also risen in the past month from 16% to more than 60%, said sources in the Petrol Dealers Association.

A spokesperson from an oil marketing company, who did not wish to be named, said, “The discount will be applicable not just on credit and debit cards but also on mobile wallets and prepaid loyalty cards. The 0.75% incentive amount will be credited to customers’ account by way of cashback within maximum three working days of a transaction.”
 Petrol dealers, though, have demanded that the cashback should be refunded by the oil company or the bank and not them. When contacted, a dealer said, “We welcome the incentive scheme, which will encourage cashless transactions. But we are opposed to paying 0.75% cashback.” He added that if the government forces dealers (pump owners) to give cashback discount in three days, there was a possibility of an agitation by city-based pump operators.

Pumps in Mumbai plan to tie up with some e-wallet firms so that citizens can make quick payments in future by simply clicking a few keys on their smartphone or by scanning a QR code.
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