P97 has connected with major oil companies, retailers, auto manufacturers, and financial institutions to create an enterprise-class solution and marketplace for smartphone users and connected car drivers
SANTA CLARA, California, April 1, 2019 /PRNewswire/ -- Based on its recent analysis of the North American in-vehicle mobile commerce platform market, Frost & Sullivan recognizes Houston-based P97 Networks, Inc. with the 2018 North American Technology Innovation Award. P97's cloud-based mobile commerce platform and its strategic partnerships with GM; Shell; Accenture; key technology companies, including Microsoft, Fleetcor, Visa, Mastercard, and American Express; major point-of-sale providers; and loyalty partners have established it as a clear leader in the market. P97 has leveraged this payment aggregator business model to gain capabilities in scalability, application diversity, and advanced security, thereby transforming the overall market.
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"P97's mobile commerce platform, PetroZone, is a cloud-based software-as-a-service (SaaS) offering that helps consumers find, buy, and save on fuel through their mobile phones or vehicle infotainment systems before reaching the gas station," Dorothy Amy, Senior Research Analyst at Frost & Sullivan said. "Through this groundbreaking model, oil companies gain direct access to consumers when they make a purchase decision. Deployed in the GM Marketplace, P97's service provides drivers of connected Chevrolet, Buick, GMC, and Cadillac vehicles with access to over 12,000 Shell-branded gas stations in North America."
Furthermore, the company has direct links with financial institutions for processing transactions. For instance, in 2016, JP Morgan Chase and P97 established a partnership for mobile payments, including Chase Pay acceptance, which expanded the latter's market reach and drove increased sales at gas stations. The company's platform delivers high levels of convenience, from account setup and choice of payment method to purchase receipt. P97 continues to add features and payment ecosystem integrations that will further strengthen its competitive position in the market.
P97 is currently piloting its service with three of the top 10 global vehicle manufacturers for a 2019 vehicle launch. Apart from retail fueling services, the company has expanded its PetroZone platform to support the driver, which includes all purchases that customers make during their journeys (from the time they leave home to their return), including food, fuel, parking, and other consumer experiences. The platform displays offers, discounts and loyalty programs based on driver behavior and purchases. In addition, P97 is expanding its payment services into the electric vehicle charging and hydrogen fuel dispensing space in California. They will also implement pre-order, pre-paid curb-side deliveries for c-stores, convenience retailing and quick-serve restaurants.
"P97 distinguishes itself from the competition through its uniquely secure and scalable architecture that is designed to support payments across multiple apps, payment processors, wallets, POS, loyalty partners, and other value chain participants," Amy said. "P97 strictly adheres to data protection laws and prioritizes protecting consumers' personally identifiable information (PII). The company meets the Payment Card Industry (PCI) Security Standards Council's PCI Level 1 Compliance and has SOC 2 certification for system and organization controls from the American Institute of Certified Public Accountants (AICPA). These exceptional benefits and business strategies ensure that P97's technologies are scalable and future ready."
Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognizes the solution's quality and the customer value enhancements it enables.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About P97 Networks, Inc.
P97 Networks provides secure, cloud-based mobile commerce, in-vehicle payments, and digital marketing solutions for the convenience retail, fuel, and vehicle manufacturing industries under the brand name PetroZone®. P97's mCommerce solutions enhance the ability to attract and retain customers by securely connecting millions of individual mobile phones and connected cars with merchants using identity, geolocation-based software that creates a unique mobile consumer experience. For more information, follow us on Twitter @p97networks or visit www.p97.com.
About Frost & Sullivan
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