Sber developing its own fuel platform

Nov 23, 2021

Sber plans to strengthen its position in the retail fuel market, which experts estimate to have a turnover of over RUB 3 tn. The bank intends to develop its own fuel platform for corporate and individual clients, which will be fully integrated into the Sber ecosystem.

Sber currently already offers a fuel solution for entrepreneurs and companies that can be connected to any corporate business card, providing them with additional benefits at gas stations and convenient tools for managing fuel costs. 2GIS, a Sber ecosystem company, allows users to refuel a car through its application. The new fuel platform will improve existing and create new online and offline services for refueling at gas stations and will provide Sber's partners in the retail fuel market with tools to attract customers and improve the customer experience. The fuel platform services will also facilitate the implementation of the plans of a number of Sber ecosystem companies.

Anatoly Popov, deputy chairman of the executive board, Sberbank:

“Sber’s comprehensive fuel platform will be based on the FuelUp aggregator, in which the bank acquired a 100% stake. The service's team will continue their work and use their experience to implement the plans of the Sber ecosystem. The platform will soon be supplemented with features including SberSpasibo reward point accrual and redemption, payment via SberPay, and more. I am certain that the expertise of the companies in the Sber ecosystem will enable us to actively develop the fuel sector, complementing it with new products and solutions. Our goal is to create a convenient and popular service for millions of individual and corporate clients. This is an immense, promising, and high-frequency market, in which we see great potential for the digitalization and streamlining of the customer journey.”

Iskhak Kazanbiev, founder and CEO, FuelUp:

“We are pleased to join the Sber ecosystem and see great potential for the development of FuelUp once we have combined our teams' technological and product competencies. Together with Sber, we will be able to build a major fuel platform in Russia and create high-quality and convenient products for the ecosystem companies' millions of users and clients, as well as increasing the penetration of digital services in the retail fuel market.”