By: worldnet On: August 09, 2016 In: Case Study, Chip and Pin, Oil Industry, Worldnet Mobile Comments: 0

Worldnet Mobile was a game-changer for us.
Barry Finlay
Owner

In our industry it’s hard to price exactly how much oil a customer will require. Normally we request pre-payment for a delivery then process a refund if less oil was delivered or the driver may have to collect cash at the door if more oil was delivered. With Worldnet Mobile our drivers can accept payment on the spot for the exact value of oil provided. This makes the process more efficient while reducing the amount of cash being handled by our drivers by over 12%. Offering Chip & PIN meant our card processing costs were lower and reduced chances of encountering fraudulent transactions.

The oil industry in Ireland has a complex payments model. To facilitate this payment providers must be able to offer their customers as many payment methods as possible. A perfect example of this can be seen with Dundalk Oil Products, who signed up to Worldnet back in February of 2016. Switching to Worldnet gave Dundalk Oil the ability to accept payments over the phone, face-to-face and through their website all through one Worldnet account.

What are the issues facing oil companies?

The biggest problem Dundalk Oil faced was with under/overpayment for deliveries. When a driver visits a customer they can never be 100% sure what volume of oil is required. It’s only once the tank is filled that they know the exact cost and this can cause serious reconciliation issues further down the line.

Before now, Dundalk Oil took a pre-payment for an estimated fill amount by card, before delivery. Once the fill was complete any adjustments were made and either a refund was issued or cash was taken for the remaining amount. Accepting cash at the door presents its own problems; with security being the main concern. After a full day of deliveries, drivers could have had thousands in cash in their truck – becoming a prime target for theft. Often customers don’t have sufficient cash, leaving Dundalk Oil with weeks of chasing customers in order to secure the remaining balances.

How does Worldnet solve these issues?

worldnetFeatures

We work closely with our clients to identify areas of concern and to provide secure, fast and easy-to-use solutions to meet their requirements. The biggest innovation to date has been the introduction of our mobile Chip & Pin product, Worldnet Mobile.

Worldnet Mobile is an app-based product that works with Android and iOS devices allowing our clients to accept secure Chip & Pin verified transactions when they are face-to-face with their customers. Worldnet Mobile links to your smartphone or tablet meaning there are no costly terminal rental fees for Chip & Pin terminals which spend most of their time sitting in the glove box.

In cases where an underpayment has been made, Dundalk Oil drivers can simply take a credit or debit card payment from their customer at the time of delivery which reduces cash levels and eliminates overdue accounts. Over the past 6 months Dundalk Oil has seen a 12% reduction in the amount of cash carried by their drivers.

Customers’ use of debit cards has increased significantly – the Banking & Payments Federation Ireland (BPFI) notes an increase of 13.4% in the number of debit card payments made in Ireland in 2014, with a total value of €19.9billion.  The graph below highlights the narrowing gap between cash withdrawals and debit card transactions since 2010.

http://www.bpfi.ie/news/increasing-trend-towards-card-cash-continues/

Originally Dundalk Oil processed over the phone transactions through standard terminals. Card details were typed into the terminal manually which results in higher transaction charges/exception charges from their merchant bank.

We recommended our Virtual Terminal (VT) to Dundalk Oil, the VT can be used on any computer with internet access and supports multiple user/multiple location access allowing companies with large staff numbers or multiple depots to accept payments through individual computers at the same time. Transactions processed through the Virtual Terminal are recorded in our SelfCare System for easy reconciliation. An overview video of our Virtual Terminal and SelfCare System can be seen here. The Worldnet VT also supports pre-authorisation, card storage and multi-currency processing.

Worldnet Mobile and our Virtual Terminal can be used as standalone facilities or integrated directly with software packages. Integrating with software providers allows clients to accept payments in-cab or over the phone and have it reconcile automatically within the software package. This simplifies the process and improves efficiency. Our developers have designed API’s specifically for these integrations which make it easy for 3rd party software providers to implement.

To arrange a demo of the Worldnet system or for further information on how Worldnet can help you don’t hesitate to contact our Sales Team directly on (01) 524 1099 or by email to sales@worldnettps.com.