Vietnam Oil Corporation (PVOil) has just launched a gasoline purchasing application (app) for individual customers called "PVOIL 4U".

In particular, in this application, PVOil cooperates with HDBank to allow customers to "Fill up first - pay later" through the bank's credit feature to buy gasoline with simple procedures, no need to prove income, no interest if paid on time; the maximum limit granted is up to 1 million VND/customer.

Sharing with reporters the reason for implementing this form, Mr. Cao Hoai Duong, Chairman of the Board of Directors of PVOil, said: In the morning, some customers often do not have much cash, especially service drivers. Therefore, if they have to fill up gas, they only fill up slowly and economically. A motorbike fills up 1 liter, a car fills up 100-200 thousand. By mid-day, they have money and then go back to the gas station to fill up more. This is very inconvenient. Therefore, we have cooperated with HDBank to implement the above credit without requiring proof of income.

“Car drivers are given a credit limit of 1 million VND. With this amount, the car can fill up the tank and run freely. After 15 days, the driver must repay the amount and does not have to pay any fees. This solves the problem of drivers not having to worry about how much money they have in their pocket,” said Mr. Cao Hoai Duong.

“We consider this a very special feature, the only one we have. I hope this will support drivers a lot, especially those who are providing services,” Mr. Duong hopes.

Faced with concerns that customers might default on their payments, PVOil's leaders said: We assess the risk of this as not too great. Because the loan is not large. Second, the shortest repayment period is 15 days, the longest is 45 days. Customers also cannot forget because the app reminds them continuously, unless they intentionally forget. This feature is aimed at drivers running services, so is it worth defaulting on 1 million and then being disconnected by the company? When people intend to cheat the bank or PVOil, they have to consider carefully. If the amount is hundreds of millions, it is very large, but only 1 million is not worth it for them to default on their debt.

“If they are disconnected, they will lose their livelihood. So we believe the risk is low,” Mr. Cao Hoai Duong confidently said.

PVOil leaders said that this application is only applied to buy gasoline at nearly 900 gas stations of this enterprise and COMECO nationwide, and has not been deployed at franchise units.