The digital unit of Argentina’s national oil company YPF is sharpening its focus on assets that connect the company with its customers.
One such asset is a mobile payment app for service stations, which was launched in 2019. But the company decided last year that a dedicated digital unit would be more efficient and created YPF Digital, which is now handling the app, among other operations.
“The dynamics of digital businesses are defined by speed and agility,” Mauro Cercos, CEO of YPF Digital, told BNamericas. “We recognized an opportunity to become more efficient.”
The app processed over 5.1mn transactions in October and boasts more than 3mn active users and works at all of YPF’s 1,600 service stations nationwide.
“The app is a platform with the ability to evolve,” Cercos said. Yet, he added, having an app for processing payments – typically made by customers just two or three times a month – “isn’t sustainable in the long term.” Consequently, the company plans to expand the app’s functionality, focusing on meeting customer needs.
“The user experience development area identifies opportunities and determines which solutions can help YPF increase fuel sales, improve operational efficiency and boost productivity,” Cercos said. “The focus is on the customer – learning quickly from them and understanding their needs,” he added.
Since its launch, the app has added features such as a non-banking virtual account, the ability to manage pre-purchases at Full convenience stores, and reservations for vehicle maintenance services.
The app also integrates the company’s loyalty program and includes an online store where users can redeem points for products. Recently, YPF expanded the program to allow customers to earn loyalty points regardless of their payment method.
YPF’s loyalty program now has 4mn members.
Growth opportunities for the app include services such as financed purchases and insurance. Additionally, the virtual wallet could be used for payments outside the YPF network.
However, Cercos declined to provide details about plans, stating that these are “just examples” meant to illustrate the possibilities. He emphasized that the company aims to release a minimum viable product to quickly gather user feedback and learn from it.
Currently, YPF Digital is rolling out a digital tipping feature across its network.
Today, three out of 10 service station payments are made using some type of virtual wallet. In Argentina, eight out of 10 adults now use digital wallets.
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