It sounds like a juvenile joke: What do the UN, BMW, Standard Bank and Shell have in common? The answer is a lot more serious. These are all early adopters of a fuel management system started by two techies frustrated with outdated technology used by large organisations for fuel payments. Shadab Rahil and Nolan Daniel had been working for a major fuel company for a decade to implement payment systems. They were convinced there must be something better, but couldn't find it on the market. "So we decided to build it," says Rahil, now joint-CEO with his co-founder of a start-up called Payment24. Until now, he says, there have been a couple of standard solutions: "A fuel card provided by banks, which is a piece of plastic with no verification, and can be cloned; and the nozzle-and-tank system, where a proprietary attachment on the fuel pump nozzle links to a ring on the tank, and in turn connects to a fuel management system. It's an expensive solution, it's difficult to maintain, and th...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now