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Automotive Product Finder Magazine | Castrol India enrols over 1.5 lakh mechanics and retailers on digital incentive platform
Castrol India enrols over 1.5 lakh mechanics and retailers on digital incentive platform
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The lubricant maker has partnered with Standard Chartered Bank for this industry-first solution which enables digital upskilling and financial inclusion.
Mumbai, 26 September 2019
Castrol India Limited, manufacturer of industrial and automotive lubricants, has enrolled 1.5 lakh users (key stakeholders including mechanics and retailers) on its digital incentive platform Castrol Fast Scan. Standard Chartered Bank is the banking partner for this industry-first solution. Castrol Fast Scan currently helps retailers and mechanics to earn, track and redeem rewards, and receive them instantly in their bank account using IMPS, leading to significant simplification and shortening of the incentive payment cycle from months to minutes.
Castrol Fast Scan has acquainted many mechanics and retailers to banking on the go, besides inculcating a savings mindset. Castrol Fast Scan has witnessed initial success and widespread acceptance with the current average daily transactions pegged at over one lakh transactions amounting to Rs 6 crores being reimbursed monthly. Omer Dormen, Managing Director, Castrol India Limited, said, “Castrol Fast Scan reinforces our commitment to our key stakeholders like mechanics and retailers to continue to add value to their respective businesses. Designed and developed in-house by Castrol India team and working on a robust back-end system, Castrol Fast Scan delivers a premium customer experience along with simplification and creates a significant differentiation by helping our stakeholders in financial inclusion and digital upskilling.”
As next steps, Castrol Fast Scan aims to double its users in the next 12 months. It is an avenue for collaboration for other corporate partners looking to reach and reward various stakeholders in a transparent and secure manner. Castrol Fast Scan offers numerous possibilities to enable sustained and customised engagement programmes for a variety of stakeholders. This will play a big role in enlarging their awareness and industry knowledge along with technical upskilling and capability building.
Industrial And Automotive Lubricants
Mechanics And Retailers
Digital Incentive Platform Castrol Fast Scan
Standard Chartered Bank
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