Provenco supplies forecourt technology in India

New Zealand payment systems company Provenco - formerly Advantage - will supply forecourt technology to a chain of Indian petrol stations run by Bharat Petroleum Corporation (BPCL).

The technology will be applied across 77 BPCL petrol stations in the northern and western regions of India over nine months.

Larsen & Toubro (L&T), contracted to install the pumps, told the Bombay (correct) stock exchange Provenco would help it supply retail forecourt technology to BPCL petrol stations including point-of-sale, back office system, category management and electronic payment systems.

Provenco chief executive David Ritchie said earlier this year the company had signed deals in recent years to distribute electronic payment systems to retailers in Malaysia, India and China.

Provenco shares last traded at 83c. They have traded between 71c and $1.01 in the last 12 months.

- NZPA