Petroleum giant BP Southern Africa has chosen JSE-listed Prism Holdings as its technology partner to roll-out the latest secure electronic transaction technology at its petrol stations and convenience stores.
Prism`s transaction processing subsidiary TranSwitch Services (PTSS) has integrated its electronic-funds-transfer (EFT) switching software with BP`s service station point-of-sale (POS) systems. This facilitates online switching of petrol, credit and debit card-based transactions on the forecourt and inside BP`s Express Shops to BP`s bank of choice.
Rollout of the EFT software to 450 of BP`s local service stations and convenience stores is planned for the first quarter of 2001, ensuring these payments are switched on a 24x7 basis.
In addition, PTSS`s account payments and prepaid service, known as EasyPay, is currently undergoing pilot testing in four BP Express Shops. This allows consumers to pay select bills to third-parties - such as their electricity and telephone accounts - at the Express Shops. Implementation of this service at other Express Shops is also planned for early in the year.
"Our business relationship with BP Southern Africa has great significance for Prism TranSwitch Services. Until now, PTSS`s focus has been on the retail, financial and utilities sectors in South Africa.
"BP is Prism`s first major client in the local petrochemicals sector, although the technology has elicited considerable interest from other petroleum companies abroad. This includes Petronas, Malaysia`s giant national petroleum corporation," says Wim Grobler, CEO of PTSS.
And in line with JSE-listed Prism`s global focus, the local agreements between Prism and BP SA have laid the foundation for joint international ventures. In the first of these ventures, Prism and BP Southern Africa have introduced Prism`s transaction switching and account payment technology to BP Iberia (Spain/Portugal/Canary Islands).
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