P97 Networks and Cybersource, Visa‘s international payment and fraud management platform, have unveiled a new multi-year international partnership to provide mobile payment acceptance tools that come with integrated risk management for fuel and convenience merchants, according to a Wednesday (Dec. 2) announcement emailed to PYMNTS.
The relationship will scale and grow P97’s PetroZone(R) cloud-based mobile commerce system internationally, with initial implementations in North America, the Middle East and the Asia Pacific anticipated over the 12 months to come.
“We are excited to extend the reach and capabilities of our mobile payments platform for convenience and fuel retailers around the world,” P97 Founder and CEO Don Frieden said in the announcement. “By joining forces with Cybersource, we gain access to key payment platform capabilities and fraud management, as well as multinational expertise and global relationships that can help us blitzscale our PetroZone(R) platform in key geographies.”
The relationship between the two companies will speed up the digitization of the fuel retail vertical through the PetroZone(R) mobile commerce platform. That technology lets drivers have a smooth digital payment experience from mobile preorder to pay at the pump to contextual marketing and beyond, keeping touchpoints to a minimum at each stop.
And, to fuel a safer and frictionless PetroZone, Cybersource will offer a full collection of fraud management, payment acceptance and value-added services.
“Millions of drivers hit the road every day and expect a frictionless and now contactless, commerce journey – whether that is re-fueling or picking up road trip essentials,” said Matt Williamson, vice president, global technology partnerships, Visa. “Building on P97’s relationships with the oil, fuel and automotive ecosystem, Cybersource brings robust, secure payment and risk management capabilities to drive innovation for the entire fuel and convenience category. A win-win for fuel operators and consumers alike.”
A recent study from PYMNTS and Cybersource indicated that the overall utilization of digital channels has risen sixty percent as of March. Aside from the demand for digital, a mobile program is cited as among the most popular commerce functions to make the shopping journey more efficient for shoppers, according to the announcement.