Exxon's SpeedPass Going Mobile

by Mercator Advisory Group 0

ExxonMobile Corporation’s private-label payment product, SpeedPass, has been a pay-at-the-pump option since 1997, and a precursor to the expanding world of proximity payments we know today. But now the original RFID keychain device is making way for the realities of mobile applications as Exxon is introducing SpeedPass+ to select markets.

From PaymentsSource:

The mobile app will work with existing technology at the gas pumps, Exxon says. When registering for SpeedPass+, customers link a credit or debit card and decide whether to receive printed receipts after purchasing gas. The app can link to any payment card.

One barrier to Exxon mobile payments that hasn’t been mentioned is flammability, which was an issue for the company. Exxon had to remove warnings stickers from their pumps that cautioned consumers against using mobile device because it has been deemed safe to do so. Exxon offering incentives such as 15 cents savings per gallon should help quell any fire concerns for most consumers. The company also can attract more users now can link SpeedPass+ to any existing account, whereas it was previously linked to a private-label credit card.

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