The India fuel cards market size was valued at USD 34.07 Billion in 2025. The industry is expected to grow at a CAGR of 10.70% during the forecast period of 2026-2035 to reach a value of USD 94.16 Billion by 2035.
The India fuel cards market is gaining momentum primarily due to targeted government and corporate initiatives promoting fuel efficiency and cost management. Programs encouraging cashless fuel transactions, corporate fleet digitization, and GST-compliant expense tracking are driving adoption among logistics, transportation, and SME fleets. Companies like IndianOil Fleet Card and HPCL SmartDrive are expanding coverage in metro and Tier 2 cities, offering benefits such as discounts, automated reporting, and real-time monitoring. These measures are streamlining fuel procurement, reducing operational costs, and fostering the shift toward cleaner, more efficient mobility across India.
Leading oil marketing companies and fuel distributors are increasingly adopting digital solutions to streamline transactions, improve fleet management, and strengthen customer loyalty. A notable example is Mahanagar Gas Ltd (MGL), which launched the ‘MGL CNG Mahotsav’ in September 2023, distributing free fuel cards worth INR 20,000–INR 500,000 for new or retrofitted CNG vehicles across the Mumbai Metropolitan Region.
This initiative allowed users to access over 310 MGL outlets and select bus depots, in collaboration with OEMs and CNG kit distributors. Such company-led initiatives are accelerating the adoption of fuel cards by promoting cashless transactions, clean fuel usage, and expense efficiency, positioning corporate innovation as a key growth engine for the India fuel cards market.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
10.7%
Value in USD Billion
2026-2035
*this image is indicative*
| India Fuel Cards Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 34.07 |
| Market Size 2035 | USD Billion | 94.16 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 10.70% |
| CAGR 2026-2035 - Market by Region | South India | 11.8% |
| CAGR 2026-2035 - Market by Region | North India | 11.3% |
| CAGR 2026-2035 - Market by Type | Branded | 12.2% |
| CAGR 2026-2035 - Market by End User | Individual | 12% |
| 2025 Market Share by Region | East India | 18.1% |
India’s digital payment ecosystem is rapidly evolving, with UPI transactions soaring 58% year-on-year in FY 2022–2023. Fuel card providers are actively leveraging this trend, integrating UPI and QR-code payments at fuel stations to enable seamless, contactless transactions. Consumers now pay quickly without cash, while operators streamline operations and reduce queues. By embracing digital solutions, fuel retailers enhance convenience, boost customer satisfaction, and stay competitive, turning the surge in digital adoption into actionable growth in the India fuel cards market.
The market is gaining traction as companies increasingly collaborate to modernize fleet payment systems. In July 2025, WEX® partnered with bp to launch the earnify™ fleet fuel card program, combining WEX’s payment technology with bp’s fueling network to offer rebates, real-time controls, and fraud protection. Such initiatives highlight the global shift toward smart, data-driven fleet management, inspiring similar corporate moves in India to enhance operational efficiency, transparency, and cashless fuel transactions across logistics and mobility sectors.
Strategic partnerships between banks and fuel companies are fueling the India fuel cards market revenue. Increasing financial inclusion, rapid urbanization, and the government’s emphasis on digital payments have boosted credit card adoption, especially in Tier-2 and Tier-3 cities. Reflecting this shift, companies such as BPCL and SBI introduced co-branded fuel credit cards with attractive cashback and reward programs, in January 2024, enhancing consumer convenience and driving wider acceptance of cashless fuel transactions across the country.
The growing emphasis on sustainable and low-emission mobility is reshaping India’s fuel card market. As the demand for cleaner transport solutions rises, companies are expanding fuel card networks to accommodate emerging energy formats. For instance, in September 2025, Ultra Gas & Energy Ltd (UGEL), backed by Essar, became India’s largest private LNG autofuel retailer, with plans to set up 100 refueling stations integrating LNG and EV charging facilities. Such initiatives are broadening the India fuel cards market scope through usage beyond traditional fuels, aligning with the country’s green mobility vision.
Digital platforms are driving growth by improving transparency, efficiency, and trust in fuel transactions. Integrated billing and loyalty solutions allow fuel station operators to track sales in real time, reduce manual errors, and ensure accountability. For example, Nawgati’s billing app, introduced in May 2023, operational at select CNG stations and linked with Aaveg, offers compliance and loyalty insights, and streamlining operations. Such innovations make fuel cards more reliable and appealing.
The EMR’s report titled “India Fuel Cards Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Key Insight: Branded cards attract loyal customers with exclusive offers, while universal cards appeal to businesses and fleet operators seeking flexibility. Merchant cards are increasingly used by retail businesses for operational convenience. For example, in July 2025, SBI Card and PhonePe launched the co-branded PhonePe SBI Card, offering rewards and a fuel surcharge waiver, promoting cashless fuel transactions. Growth is driven by cost control, transparency, rewards, and fleet management integration, making fuel cards essential for corporate and individual users.
Market Breakup by Technology
Key Insight: Smart cards are witnessing higher demand in the India fuel cards market due to their enhanced security features, compatibility with mobile apps, and real-time tracking capabilities, offering an efficient way to manage fuel expenses. Standard cards remain relevant for basic transaction needs but are gradually being complemented by digital solutions. The market is further driven by innovations such as Tango Brook Technologies’ smart fuel card launch in September 2025, which enhances transparency, fraud prevention, and cost optimization. These advancements support fleet efficiency and promote seamless, data-driven fuel management across regions.
Market Breakup by Application
Key Insight: Fuel-refill drives consistent usage, with cashback and loyalty programs encouraging regular adoption among individual drivers and fleets. Parking solutions simplify payments in urban areas, offering convenience and transparency. Vehicle services benefit from streamlined billing for maintenance and repairs, enhancing operational ease. Toll payments, integrated with FASTag and digital solutions, reduce waiting times and enable seamless highway travel. Together, these applications reinforce the India fuel cards market revenue by expanding daily mobility adoption.
Market Breakup by End-User
Key Insight: Corporate clients are driving adoption through fleet management, operational efficiency, and expense control, supported by tools for real-time monitoring, reporting, and route optimization, exemplified by the MRPL–SBI HiQ Fleet Card launched in September 2025 offering tailored benefits for large fleets. Individual users value convenience, rewards, and cashless refueling, especially in urban areas. Rising digital literacy, increasing vehicle ownership, and awareness of efficient fuel management solutions further drive demand, with tailored programs addressing specific operational and financial needs for both end-users.
Market Breakup by Region
Key Insight: North and West India are witnessing strong uptake due to dense urbanization, extensive logistics networks, and growing fleet operations. South India fuel card market is experiencing surging adoption driven by IT hubs, corporate centers, and government digital initiatives, while East India is gradually expanding with infrastructure development and increased transport activity. Growth across these regions is fueled by urban expansion, government incentives for cashless payments, improved fueling infrastructure, and awareness of fleet management solutions enhancing operational efficiency.
By type, branded fuel cards are emerging as a leading category
Branded fuel cards are increasingly shaping the spending habits of fleet operators and individual users by offering exclusive loyalty benefits and enhanced convenience. Partnerships like the HPCL–IDFC FIRST Bank–RuPay collaboration, announced in March 2023, have amplified this trend by introducing co-branded cards that combine fuel savings, lifestyle perks, and seamless digital onboarding. Such initiatives highlight the growing integration of financial technology with mobility services. As fuel retailers and banks work together to enhance value propositions, branded cards continue to attract a wide customer base seeking secure, rewarding, and digitally efficient payment solutions.
Meanwhile, merchant fuel cards account for significant India fuel cards market share fueled by the growing digitalization of fleet management and the push toward efficient, transparent logistics operations. Strengthening this momentum, the April 2025 partnership between TrucksUp and IndianOil to launch the XTRAPOWER-Fleet Card is transforming the landscape by integrating digital payments, reward programs, and fuel monitoring systems. This synergy between technology and energy infrastructure is redefining how logistics operators control costs and enhance productivity.
By technology, smart fuel cards are picking up momentum
Smart fuel cards market is gaining significant traction in owing to the integration of advanced tracking systems and digital fleet management is redefining how businesses monitor fuel use and operational costs, driving demand in India. These cards enable seamless oversight of large fleets, offering enhanced control, transparency, and efficiency through technology-driven platforms. In January 2025, AG&P Pratham-THINK Gas, in partnership with Zaggle, introduced the Mileage+ CNG Fuel Card, featuring real-time expense tracking, analytics, and multi-card management under a single account, which empowers fleet operators to streamline fuel operations and optimize performance across networks.
On the other hand, standard fuel cards are witnessing steady demand due to the growing preference for reliable and cost-effective payment solutions among small transporters and individual vehicle owners. These cards offer simplicity, ease of use, and broad accessibility without requiring complex digital setups, making them ideal for traditional users. Their compatibility with existing POS systems at fuel stations further encourages adoption, reflecting key India fuel cards market trends, such as straightforward cashless transactions, expense tracking, and surcharge waivers. For example, the IndianOil EasyFuel Card is a widely used standard fuel card in India. It provides small transporters and individual vehicle owners with cashless fuel payments, automated expense tracking, and fuel surcharge waivers across a vast network of petrol stations, making it a simple and cost-effective solution for traditional users.
By application, fuel-refill category represents a notable revenue share
The availability of cashback, loyalty points, and value-back incentives is driving fuel card adoption for fuel-refill application. These rewards encourage frequent usage by providing tangible benefits on every fuel purchase, motivating both individual vehicle owners and fleet operators to rely on digital payment solutions. By combining seamless refueling with financial incentives, fuel cards not only enhance customer satisfaction but also promote consistent usage. This focus on rewarding consumers is actively accelerating the growth of fuel cards for refueling across India.
Moreover, fuel cards are highly preferred to pay toll charges amid the shift towards cashless and convenient toll payments in India. The FASTag Annual Toll Pass launched by NHAI in August 2025, directly addresses this need by allowing private vehicle owners up to 200 prepaid trips on national highways and expressways. Activated through the Rajmarg Yatra app or NHAI website, it eliminates repeated payments, reduces waiting times, and highlights India fuel cards market opportunities in seamless, efficient toll-related transactions.
By end user, individuals show significant uptake
Fuel card adoption among individual users is increasingly driven by the focus on enhanced customer experience. Cards offering personalized offers and targeted promotions reward loyalty and make refueling more appealing. Coupled with simplified account management and real-time transaction monitoring, users gain full visibility and control over their fuel spending. This combination of convenience and tailored benefits ensures seamless refueling while improving financial oversight. The focus on delivering a user-centric, rewarding experience is actively motivating individual vehicle owners to adopt fuel cards.
Besides this, India fuel cards market expansion is gaining momentum as corporate fleets increasingly seek cost optimization and value-added rewards. Initiatives like RBL Bank’s launch of the Xtra Credit Card with IOCL in September 2024 highlight this trend, offering corporate clients up to 8.5% savings on fuel and 15 fuel points per INR 100 spent. Such programs help businesses manage operational fuel costs efficiently, streamline payments, and enhance financial oversight, actively promoting the adoption of fuel cards as a strategic tool for fleet management and corporate convenience across India.
| CAGR 2026-2035 - Market by | Region |
| South India | 11.8% |
| North India | 11.3% |
| East India | XX% |
| West India | XX% |
By Region, North India accounts for the significant market share
North India accounts for a substantial revenue share in the fuel cards market, driven by rapid digitalization and the government’s focus on modernizing transport infrastructure. The region’s expanding vehicle base, growing logistics activity, and preference for cashless transactions have accelerated the adoption of fuel management solutions. For instance, Uttar Pradesh’s 2025 initiative to replace paper vehicle registration documents with chip-based smartcards highlights the region’s increasing inclination toward secure, digital systems that align with fuel card integration and smart mobility goals.
Meanwhile, East India fuel cards market demonstrates significant growth owing to the ongoing industrial and energy infrastructure in the nation, which is driving demand for streamlined fuel management solutions. Investments in large-scale petrochemical and refinery projects increase fuel consumption across transport and logistics sectors, creating a need for efficient, cashless, and trackable fuel payment systems. For instance, in April 2025, IndianOil signed an INR 61,077-crore MoU with the Government of Odisha to develop a mega petrochemical complex at Paradip, boosting regional fuel demand and supporting downstream industries. This expanding fuel ecosystem highlights the importance of advanced fuel cards and payment solutions.
Leading India fuel cards market players are increasingly focusing on digital integration to enhance customer convenience and streamline operations. They are investing in mobile apps, contactless payment solutions, and real-time tracking systems to provide seamless fuel management experiences. Additionally, partnerships with logistics and fleet operators are being leveraged to offer customized programs, reward schemes, and cost-optimization solutions, enabling businesses to monitor fuel consumption, reduce expenses, and improve overall operational efficiency.
To expand market reach, many companies are targeting both urban and semi-urban regions, aligning with government initiatives promoting digital transactions. Strategic investments are being made in infrastructure, including modern fueling stations and alternative energy refueling points. Efforts also include enhancing sustainability by incorporating cleaner fuels and supporting electric vehicle charging. These strategies collectively help players strengthen their competitive positioning while catering to evolving consumer preferences and regulatory frameworks.
Engen Petroleum Ltd. is a South African energy company headquartered in Cape Town, established in 1881. It offers a wide portfolio including fuels, lubricants, and petrochemicals, catering to both retail and commercial customers across Africa. Engen has a strong focus on sustainability, safety, and quality management, and operates an extensive network of service stations that support local communities and businesses.
Puma Energy, BP p.l.c. is a global integrated energy company headquartered in London, United Kingdom, with origins tracing back to 1909 (through BP’s establishment). The company provides midstream and downstream solutions including fuel storage, distribution, and retail operations. Puma Energy BP p.l.c. has a strong presence in emerging economies, including India fuel cards market landscape, focusing on operational efficiency, technological innovation, and sustainable energy practices.
FirstRand Limited is a leading financial services group headquartered in Johannesburg, South Africa, founded in 1998. It provides banking, insurance, and investment services to retail, commercial, and corporate clients across Africa. The company emphasizes digital innovation, financial inclusion, and customer-focused solutions, and has been recognized for pioneering mobile banking and fintech initiatives in the region.
FleetCor Technologies, Inc. is a United States-based global provider of fuel cards, payment solutions, and workforce management services, headquartered in Norcross, Georgia, and established in 2000. The company is known for its secure, technology-driven platforms that integrate expense tracking, reporting, and analytics for corporate clients.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other notable players in the India fuel cards market include Libya Oil Holdings Ltd., WEX Inc., Royal Dutch Shell PLC, Exxon Mobil Corporation, U.S. Bancorp, Myprotein, among others.
Explore the latest trends shaping the India Fuel Cards Market 2026-2035 with our in-depth report. Gain strategic insights, future forecasts, and key market developments that can help you stay competitive. Get a free sample report or contact our team for customized consultation on India fuel cards market trends 2026.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2025, the market reached an approximate value of USD 34.07 Billion.
The market is projected to grow at a CAGR of 10.70% between 2026 and 2035.
The key players in the market include Engen Petroleum Ltd., Puma Energy, BP p.l.c., FirstRand Limited, FleetCor Technologies, Inc., Libya Oil Holdings Ltd., WEX Inc., Royal Dutch Shell PLC, Exxon Mobil Corporation, U.S. Bancorp, Myprotein, among others.
Key strategies driving the market include launching co-branded and branded fuel cards, integrating digital and contactless payment solutions, offering loyalty programs and reward points, expanding multi-fuel and sustainable refueling networks, and forming strategic partnerships with banks and fuel retailers.
South India holds the largest share of the India fuel cards market and is expected to grow at 11.8% CAGR through 2035.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Technology |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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