BY Daniel Bampoe
In a bold move aimed at transforming the fuel retail sector, StarOil Ghana Ltd has launched its innovative “Fuel Now, Pay Later” scheme, enabling drivers to purchase fuel on credit using their GhanaCard and an individualized credit scoring system.
The scheme available at StarOil stations in Mallam Junction, Adenta SDA, Adenta Aviation, and the North Industrial Area, has been hailed as a milestone in the evolving digital credit economy.
Former Vice President Dr. Mahamudu Bawumia, who has been a long-time advocate of leveraging digital systems to expand access to credit, congratulated StarOil Ghana and its CEO for implementing the scheme.
In a statement, Dr. Mahamudu Bawumia noted that when he introduced the concept last year, many skeptics doubted its feasibility.
He emphasized that a robust credit economy is essential for reducing financial stress and enhancing convenience, as is observed in many advanced economies.
“This initiative demonstrates that it is possible to harness technology and institutional frameworks to offer Ghanaians flexible payment options.
With the GhanaCard as an anchor, supported by the digital address system, interoperable mobile money platforms, and individualized credit scoring, the foundations for a functioning credit economy are firmly in place,” Dr. Bawumia said.
The “Fuel Now, Pay Later” scheme allows drivers to fill their tanks and pay later through their MTN or Telecel mobile wallets.
The process is streamlined to ensure security and efficiency: upon arrival at the station, the driver presents their GhanaCard, which is verified through a photograph and the National Identification Authority’s Face ID system.
The system then runs a credit check via the myCreditScore platform. Once approved, the driver can purchase fuel immediately, with payment automatically debited from their mobile wallet after a set period. Repeat transactions are contingent upon timely repayment.
StarOil Ghana’s initiative is seen as a potential blueprint for other oil marketing companies (OMCs) and businesses in Ghana to adopt credit-based transactions.
It is expected to provide much-needed financial flexibility for workers, particularly in the transport sector, and promote wider adoption of digital financial services anchored on national identification and mobile money infrastructure.
The launch also underscores Ghana’s broader efforts to modernize its economy through digital innovation. By integrating the GhanaCard with individualized credit scoring, the initiative positions the country to expand a credit ecosystem that is safe, accessible, and reliable for ordinary citizens.
