With around 1.45 billion cars worldwide – 413 million of them in Europe – owners, drivers and their passengers represent a huge consumer segment. As petro brands seek to service customers better, we look at how downstream diversification and payment innovation are turning forecourts into convenience hubs.
The downstream petro market is experiencing a transformation.
With reducing fuel/gas margins and rising operational costs, forecourts are often reliant on convenience stores (C-stores) to capture additional revenue. Many have deals with multi-lane retail and food chains – or are owned by them – and some also offer dining and fast-food options.
Increasingly pressed for time, consumers want fuel and service stations to provide them with even more facilities to meet their on-the-go lifestyles.
As a result, petro businesses are forging partnerships with other merchants. They are leasing real estate assets to those that help to attract commuters, and travellers and encourage them to spend more in their locations.
As services diversify, forecourts are being reimagined as a mobility and convenience hubs.
Services are being extend to ever more diverse choices including automated laundry facilities, in-store kiosks and vending and, of course, self-service EV charging points.
Most consumers using these facilities are convenience orientated, are in hurry and want to purchase quickly. This is escalating the need for fast and frictionless payments.
Checkouts are having to keep up with customer preferences.
As drivers and passengers ditch cash, this has led to a surge in demand for new payment options including contactless pay-at-pump systems and mobile wallet acceptance. QR codes are also on the rise for unattended services like vending machines or scanning offers at pump and in store.
Integrating media at checkout can further enhance the shopping experience. Digital screens on POS devices can drive content that promotes product bundles, promotions, and loyalty points, encouraging customers to make additional purchases and come back for more.
Making sure petro payment devices are fit for purpose
Today, every merchant involved in the petro value chain needs robust payment systems that can handle high volume throughput without downtime.
- Automated self-services: These require reliable payment systems that accommodate various methods, are tamper proof and can cope with tough outdoor environments.
- Dining and fast-food options: Payment systems must efficiently handle high volumes, ideally integrating with loyalty programs.
- Enhanced convenience stores: Must support multiple payment types, including digital wallets and loyalty cards.
In hyper-busy forecourt locations, security is paramount; all POS and payments devices must, at minimum, comply with the latest PCI requirements to safeguard customer data. It’s also vital that they conform with safety standards for operating in explosive areas, such as Europe’s ATEX and the internationally recognised IECEx certifications, as well as any local country requirements.
As the petro market evolves, partnering with a pay-tech provider that understands these changes is essential.
Companies like Castles Technology offer versatile payment solutions and POS systems that support various payment types, ensuring businesses can cater to all customer preferences.
We are already partnering with the world’s leading petro companies to revolutionize payment experiences —making them smoother, faster, and more efficient than ever.
For forecourt C-stores, we offer a wide range of acceptance solutions including robust Android POS, that offer high levels of connectivity, and payment choice as well as value added services – to accommodate cashbacks, rewards points and discounts.
Our devices provide high reliability and innovative features, such as integrated media solutions, curated content and cloud-based POS estate management and updates for maximum engagement and efficient operation.
In addition, unattended devices like our new S1U2-M4, offer a robust acceptance solution and are engineered for exceptional reliability in the most challenging self-service environments making them ideal for petro, EV charging and kiosks.
Looking to the future
The petroleum market is navigating a significant shift, driven by a diversification of services. This is highlighting the importance of seamless, customer-centric payment experiences.
By focusing on convenience and investing in robust payment systems, merchants can embrace these changes and compete more effectively in the rapidly evolving forecourt ecosystem.
Find out more: https://www.castlestech.com/products/
