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FORT LEE, N.J. -- On Track Innovations Ltd. (OTI) announced that BP Africa, a division of BP, has expanded its relationship with OTI and granted BP a worldwide license for its petroleum payment solution.
In the original contract, OTI, through its subsidiary OTI Africa, created a network of on-road sites equipped with its fuel management system branded in South Africa as FuelMaster Fleet and FuelMaster Express. Under the latest contract, OTI Africa will continue to provide sales, encoding, installation, driver training, maintenance, repair, quality control services, customer care services, help desk services, technical support and development services at over 500 BP stations in southern Africa. BP has 28,500 stations worldwide.
In addition, BP Africa established a direct relationship with OTI for the acquisition of equipment and the grant of a worldwide license. In addition to cash payments for equipment, OTI will continue to receive a volume-based remuneration from Warrenville, Ill.-based BP based on all petrol and diesel sold through the use of the FuelMaster System at on-road and home base sites.
Fabian Bessick, product manager for FuelMaster for BP Africa said, "This relationship built over many years have contributed significantly to the bottom line of our company and that of our customers through the introduction of management systems which have provided peace-of-mind. We look forward to extending this mutually beneficial relationship with OTI."
"The original purpose was to put a system in place to eliminate fraud, to increase the efficiencies of fleet management and to increase loyalty for BP stations," said Oded Bashan, president and CEO of OTI. "This contract extension gives BP a license to expand this program beyond Africa. Our work with BP is another example of why companies are working with OTI to adopt contactless payment solutions across a wide range of industries globally. Our customers benefit by leveraging OTI’s technology for multiple applications, including loyalty programs, increased retail purchases and improved security."