There is an app that lets you buy gas first and pay later.

People refuel their cars without using cash at a Vietnam Oil Corporation (PVOIL) gas station in Ho Chi Minh City - Photo: NGOC HIEN

On September 30th, Vietnam Oil Corporation (PVOIL) launched a fuel purchasing application for individual customers, called PVOIL 4U.

People can use this application to buy fuel at nearly 900 PVOIL and Comeco stores nationwide. Previously, PVOIL developed the PVOIL Easy fuel purchasing application for transportation businesses and PVOIL B2B for wholesale customers (dealers, distributors).

PVOIL stated that in addition to fuel purchasing services, people can use the app to access other features such as managing fuel purchase transactions, searching for gas stations, managing their vehicles, checking traffic fines, and purchasing vehicle insurance.

Notably, the app also includes features such as gifting fuel vouchers and banks providing credit for purchasing fuel.

Accordingly, PVOIL has partnered with HDBank to provide customers with a "buy now, pay later" fuel service. The maximum amount approved by the bank is 1 million VND.

Users will be approved without proof of income; they just need to download the app, take photos of both sides of their citizen ID card, and provide some information.

The maximum repayment period for loans to PVOIL's partner banks is 45 days from the date of purchase. If overdue, customers will be charged interest similar to that on a credit card.

Mr. Cao Hoai Duong, chairman of PVOIL, said that PVOIL supplies more than 5.5 million cubic meters/tons of various petroleum products to the domestic market annually, accounting for 22-25% of the domestic market share.

In the Vietnamese market, PVOIL is the second-largest petroleum retailer after Petrolimex in terms of market share.

PVOIL expects to reach the 120,000 billion VND mark.

According to Mr. Cao Hoai Duong, PVOIL grew by 27% in 2023 compared to the previous year. In the first nine months of 2024, the company maintained its growth momentum at 18% and exceeded the planned target by 5%.

Mr. Duong stated that although the year is not yet over, the company is confident in setting a new revenue record, reaching 120,000 billion VND. Three years ago, PVOIL first reached the 100,000 billion VND revenue mark. In 2023, the company's revenue reached approximately 110,000 billion VND.

"This year we are quite confident in reaching the revenue target of 120 trillion VND, even though oil prices are still relatively low," Mr. Duong said.

Source: https://tuoitre.vn/da-co-app-cho-mua-xang-dau-truoc-tra-tien-cham-sau-do-20240930200724143.htm