Retailers that wish to utilise the scheme must be equipped with VeriFone payment acceptance systems already, which will allow the payments company to implement the solution into its existing in-store infrastructure. One of the main features they will then access is a smartphone pay-at-pump system, an addition that will not even require the fitting of new petrol dispensers. VeriFone hopes that the elimination of third party technology will make the installation a far quicker and easier process for retailers to adapt to.

Merchants will also be able to launch a rewards scheme alongside the smartphone payment service, with NPCA assisting them in developing its existing mobile apps so that customers can receive loyalty points each time they pay this way.

Dan Yienger, senior vice president and general manager of Petroleum for VeriFone, said: "Consumers are increasingly drawn to rewards-based fuel purchase programs, and they expect to be able to use their mobile phone to complete transactions at the pump. NPCA and VeriFone are showing how easy it is for CSPs to offer mobile payment and reward options to customers that increase loyalty and sales.”

Danilo Portal, NPCA chief operating officer, added: "Many consumers today would rather utilize the capabilities of their smartphones versus pulling out their wallets. Using this solution, retailers can easily and cost-effectively create mobile loyalty programs that attract and reward high-value customers — without having to replace their existing payment infrastructure."