PODCAST HOUSTON FINTECH STARTUP TAPS INTO NEW TECH TO MODERNIZE 'DAILY JOURNEYS'

Before Don Frieden started his company, gas stations hadn’t innovated their payment technology
since 1997. He knew that needed to change.

Original Post | Innovationmap

Before Don Frieden started his company, gas stations hadn't innovated their payment technology since 1997. He knew that needed to change.

P97, founded in 2012, exists to use innovative technologies to simplify and energize daily journeys, Frieden explains on the Houston Innovators Podcast.

We think about daily journeys from the time we leave home in the morning and when we get back at the end of the day — whether it's tolling, parking, buying fuel, fast food restaurants, it's all a part of your daily journeys, and our goal is to make things a little bit simpler each day," Frieden says on the show.

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The fast-growing company — which has nearly 200 employees, most of whom work from Houston — has raised over $100 million in venture funding, according to Crunchbase, most recently closing a $40 million series C round earlier this year. This funding has supported P97 as its expanded its technology, even expanding outside of gas station payments and into other sectors, like consumer packaged goods, mobile app development, and alternative fuel sources.

Part of what P97 is focused on too is adapting new technologies, including biometrics, and applying them to the payments world. Voice-enabled payments is something in particular that Frieden is working on.

"One of the things we’re most excited about is voice enable payments through our partnership with Amazon's Alexa," he explains. "The landscape of payments at gas stations underwent this next revolution, and we're using cutting-edge speech recognition and artificial intelligence to allow drivers to pay for fuel just using their voice.

"It makes the process faster and more efficient, and is completely hands-free," he continues, explaining that biometrics are also safer compared to card transactions. "From this time I say, 'Alexa, buy gas,' six seconds later, the gas would be turned on and any loyalty rewards I have would be applied, all from the comfort of my car."

Frieden shares more about the future of P97, payments, and the energy industry as it intersects with P97 — including the future of alternative fuels — on the podcast. Listen to the interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.

HOUSTON & BANDAR SERI BEGAWAN, Brunei–(BUSINESS WIRE)–BSM announced today that it has selected P97 Networks, a leader in cloud-based mobile commerce, to build the first step in their digital journey, the BSM mobile app. At launch, the new mobile app, built on P97’s PetroZone mobile commerce platform, will support dual languages (English and Bahasa Melayu) and enable motorists to locate the nearest BSM retail station, display fuel prices and list the services available at each station. In addition, the BSM mobile app will also support promotions for fuel and in-store purchases.

Shortly after launch, the BSM mobile app will enable secure, mobile payments with integrated loyalty, and personalized digital offers for both fuel purchase and in-store merchandise across its network of 36 sites. The mobile app will offer shoppers enhanced security, efficiency, and value, and will improve their purchase experience at the pump and inside the store.

“We are honored BSM has selected P97 to manage mobile payments, with integrated loyalty and personalized digital offers,” says Brad Jones, Managing Director, Asia Pacific at P97. “The explosive growth of mobile payments means consumers have an expectation for frictionless payments at the pump, and BSM will be enable this experience driving greater consumer loyalty.”

Shell selected P97’s PetroZone mobile commerce platform because of its proven track record of speed, security, and reliability. PetroZone protects consumers against fraud and is SOC 2 Type 1, SOC 2 Type 2, PCI PA-DSS Level 1 ROC, and GDPR compliant.

About P97 Networks, Inc.

P97 Networks provides secure cloud-based mobile commerce and digital marketing solutions for the convenience retail and fuels marketing industries under the brand name PetroZone. P97’s commerce solutions enhance the ability of convenience store operators, marketers, and oil companies to attract and retain customers by providing technology that securely connects millions of individual mobile phones and connected cars with identity and geolocation-based software technology to create unique connected-consumer experiences.

@p97networks
www.p97.com

About Brunei Shell Marketing (BSM)

Brunei Shell Marketing Company Ltd was formed as a joint venture between the Government of His Majesty the Sultan and Yang Di Pertuan Of Brunei Darussalam and Royal Dutch Shell Plc. From its first Shell fuel station in the 1950s, BSM has expanded to 36 retail stations that cater to the needs of motorists in the country. Best known for its fuel products, BSM has other products in its portfolio which comprise of Shell lubricants and eco-friendly paint; liquefied petroleum gas; Jet A-1 fuel for aviation, ship-to-ship bunkering and bitumen.

Contacts

Brunei Shell Marketing Co. Sdn Bhd. Media Contact
Huwaida Moksin
(+673) 717-2648
huwaida.moksin@shell.com

P97 Media Contact
Aaron Mireles
(281) 954-1706
Aaron.mireles@p97.com

Posted By

Aaron Mireles

PODCAST HOUSTON FINTECH STARTUP TAPS INTO NEW TECH TO MODERNIZE 'DAILY JOURNEYS'

Contacts