Big Oil Invests In Mobile Payment

Apps will give customers a more convenient payment option at the pump
fuel app

In a string of deals that are part of a growing movement toward linking loyalty programs with mobile payment, Exxon Mobil Corp. and BP have unveiled their own enhanced payment and loyalty apps.

In mid-March, Exxon Mobil Corp. announced it will accept mobile payment at the pump, including Apple Pay, throughout most of its U.S. retail network. TheSpeedpass+ mobile payment app is now available at more than 6,000 Exxon- and Mobil-branded convenience stores across the country.

The app enables customers to authorize a pump for payment securely through the use of cloud-based technology. Customers

have the option to select Apple Pay as a default form of payment from within the app.

“ExxonMobil wants to make filling up your vehicle even more convenient, and the Speedpass+ app has been designed to save you time at the pump,” says Matt Bergeron, vice president of fuels and lubricants marketing for ExxonMobil.

$1 trillion

Projected value of worldwide mobile payments in 2017

Source: IDC Financial Insights’ “Worldwide Mobile Payments 2012-2017” report

The Speedpass+ app is available as a free download, and it may also be linked to checking accounts or other major credit and debit cards.

Irving, Texas-based ExxonMobil plans to expand the app’s availability to more than 8,000 branded c-stores by midyear. Through the app, customers can identify nearby stores enabled for mobile payment.

The announcement comes on the heels of BP’s recent partnership with Visa, another deal that pairs a retailer’s loyalty program with payment.

Members of BP’s loyalty program will now have the ability to link eligible Visa payment cards to their BP Driver Rewards account. The new functionality allows loyalty members to use a branded credit card from Visa to purchase BP fuel and earn or redeem BP rewards without needing a separate loyalty card.

“By eliminating the need to swipe both a payment and a loyalty card when purchasing BP Fuel, we have simplified the consumer experience,” said Doug Dryan, BP’s loyalty manager, in a press release.