The key features of the new program :

• Multiple choice - we can now offer credit facility on two brands - SmartFleet (BPC) & XTRAPOWER (IOC) cards. If a customer wants both these cards for the same vehicle no., we can still issue two cards.




• SF’s role - SF is merely a CREDIT ADMINISTRATOR and is our role is restricted to product selling, credit appraisal & receivables management.




• Product offering by oil companies - BPC / IOC would manage & control the respective products which includes loyalty program, special promos, free credit period etc.




• Card facility – SF will extend credit facility on the cards offered by the oil cos. The prepaid pouch will also be enabled in each card so that the customer can use out of this pouch by paying up at the retail outlets. However, if the requirement is only prepaid, customers will have to apply directly with the oil co.




• Flexi finance - Regular package is at 16% p.a. for both products. Also for both SmartFleet & XTRAPOWER program, a customer can also choose the FCP option (FREE CREDIT PERIOD option) wherein he does not pay any interest, in case he pays up his entire consumption value of previous fortnight within the next 6 days. Of course, there is no loyalty in this case, since that is already priced into the cost of free credit period.




• Single customer limit - Can be operated across cards of both oil companies. Credit limit is no longer split at the card level.




• Simple documentation - Loan documentation has been simplified.




• Card operations - There are no credit limits set at individual cards. Only Daily Limit is pre-set by the customer for each card based on the overall customer credit limit approved by us. The card usage is monitored against this customer limit maintained across different cards of that customer.