Mashreq and ENOCrevolutionise the way customers refuel their cars

Dubai, UAE, May 26, 2016: Mashreq, one of the UAE’s leading financial institutions,has partnered with Emirates National Oil Company (ENOC) to provide payment acceptance for the new Vehicle Identification Pass (ViP) service launched by ENOC. The payment solution will be available on the ViP Online Portal - vip.enoc.ae - allowing ENOC and Mashreq Bank customers to top up their ViP account and make cashless payments for their fuel purchase.

ViP is a state of the art refueling solution based on Radio Frequency Identification (RFID) technology. This pre-paid system allows vehicle owners to drive into any ENOC service station, have the attendant refuel their vehicles with the desired amount of fuel, and drive off. There will be no need to pay using cash or a credit card - the RFID technology will automatically identify the car and deduct the cost of the fuel from the ENOC VIP account. Installation services of VIP Tags are being offered across ENOC’s entire network of 112 stations 

H.E. SaifHumaid Al Falasi, Group CEO of ENOC, said: “The new innovative technology will help our customers save time and manage fuel budgets - it is a result of our continuous commitment to find innovative ways to support Dubai’s Smart City initiativewhich aims to make Dubai the smartest city in the world. Our partnership with Mashreq is a testament of the power of collaboration between local institutions to continuously improve customer satisfaction and contribute to the government’s goals.” 

Pankaj Kundra, Head of Payments at Mashreq, commented: “Delivering innovative solutions and best in class paymentsservices has always been a key focus for Mashreq - with ENOC VIP we continue to make that possible. Mashreq has worked to ensure that the customer experience in topping up the VIP wallet using the ENOC website or smartphone app is fast, intuitive and convenient. This is another important step by Mashreq to provide our customers with the most rewarding banking relationships.” 

Mashreq is the only bank that is powering ENOC’s website for wallet top ups, using it’sworld-class eCommerce and mCommerce payments suite.The ViP platform uses a technology which consists of a secure encoded electronic security tag, mounted near the fuel tank. This enables the nozzle to automatically recognise the fuelling preference individuals have set for their personal vehicle, while calculating the amount of fuel filled from the dispenser. The money will be automatically deducted from the customer’s personal ViP account.