24 August 2020
Revenue Group to help Caltex introduce digital payment services

KUALA LUMPUR (Aug 24): Cashless payment solutions provider Revenue Group Bhd has bagged a deal to provide e-wallet services at all Caltex petrol stations nationwide.

In a statement today, Revenue Group announced its partnership with Chevron Malaysia Ltd, which owns and markets Caltex in Malaysia.

The deal will see smart digital payment terminals installed at over 420 Caltex petrol stations, accepting local e-wallet payments from Touch ‘n Go eWallet, Boost and GrabPay, with the group expecting work to be completed at the end of the month.

“Customer convenience has always been a priority for Caltex and this collaboration enables us to offer more and safer payment choices for customers,” said Chevron Malaysia country chairman Jay Gomez.

“At Caltex, we are committed to offering excellent fuel products and services. A key focus is ensuring we have industry-leading payment systems in place for our customers, and we are very pleased to be working with Revenue to introduce e-wallet payments at our petrol stations. These digital upgrades enhance the customer experience at Caltex by allowing motorists to refuel and pay with their mobile phones,” Gomez added.

Meanwhile, Revenue Group managing director and group chief executive officer Eddie Ng Chee Siong believes the collaboration is timely as more consumers are shifting towards digital payments as a result of the Covid-19 pandemic.

“This partnership with Caltex expands our merchant footprint and is in line with our longstanding aim to drive cashless adoption in the country,” Ng said.

The group expects higher rates of digital payment adoption among Malaysians to boost its revenue as a provider of electronic transaction processing services.

Petronas Dagangan Bhd is another player which has initiated the adoption of digital payments at Petronas stations through its wholly-owned petrol e-payment solution provider Setel Ventures Sdn Bhd.

Revenue Group shares were up two sen or 1.49% at RM1.36 by 12.03pm, valuing the group at RM533 million. Around 1.78 million shares were traded.

Year-to-date, the counter has fallen only marginally from RM1.39, bouncing back from its yearly low of 70 sen on March 19.

Edited by Lam Jian Wyn

Source: The Edge Markets