Speedpass is a payment brand owned by ExxonMobil. In Canada it is operated by Imperial Oil Limited, the 69.6%-owned Canadian affiliate of ExxonMobil that runs the Esso and Mobil retail networks.

Is Speedpass still available?

The Speedpass name was retired in Canada on December 6, 2023, when the Speedpass+ app became the Esso and Mobil App. The same pay-at-pump, gift card, and rewards functions continue under the new app name. In the United States the equivalent features live in the Exxon Mobil Rewards+ app.

When was Speedpass founded?

Mobil Corporation launched Speedpass in 1997 as an RFID key-tag payment system, developed with Texas Instruments technology. It expanded to Exxon and Esso stations after the 1999 Exxon-Mobil merger.

What happened to the Speedpass key tag?

The RFID key tag was retired in the United States on June 30, 2019. In Canada, Tap at the Pump began replacing key-tag readers in December 2020, and the physical tags were phased out in favor of smartphone payment.

Did Speedpass+ accounts carry over to the new app?

Accounts active within two years of December 6, 2023 migrated to the Esso and Mobil App with linked credit cards intact. Accounts inactive for more than two years were deleted, including stored gift cards and receipt history.

Is Speedpass a subsidiary of Imperial Oil?

No. Speedpass is a product line, not a company. ExxonMobil owns the brand and underlying technology, and Imperial Oil operates it in Canada as part of its retail business.

Finance & Fintech

Who Owns Speedpass?

Speedpass is a fuel payment brand owned by ExxonMobil and operated in Canada by Imperial Oil Limited (TSX: IMO), ExxonMobil's 69.6%-owned affiliate. Mobil launched the RFID key-tag system in 1997, and it evolved into the Speedpass+ mobile app in 2017. On December 6, 2023, the Canadian app was renamed the Esso and Mobil App.

Twitter Facebook LinkedIn

Parent Company

Imperial Oil Limited

Founded

1997

Status

Publicly Traded

Headquarters

Calgary, Alberta, Canada

Speedpass Timeline

1880

Imperial Oil Limited

Parent company established in Calgary, Alberta, Canada

Company Founded

1997

Speedpass

Founded by Mobil Corporation (with Texas Instruments RFID technology)

Founded

RegionalOfficial Website

Who Owns Speedpass?

Parent Company: Imperial Oil Limited
Ownership Type: Product line
Company Type: Publicly Traded
Stock Ticker: TSX, NYSE American: IMO

Brand	Parent Company	Ownership Type
Speedpass	Imperial Oil Limited	Product line

History of Speedpass

Founded: 1997
Founders: Mobil Corporation (with Texas Instruments RFID technology)

Mobil Corporation launched Speedpass in 1997 as a key fob that used radio-frequency identification to authorize fuel purchases. The customer waved a small tag near a reader on the pump, and the transaction charged a linked credit card automatically. Developed with Texas Instruments RFID hardware, it was one of the first large-scale contactless payment systems in North American retail, arriving years before tap-enabled credit cards or smartphone wallets.

After the November 1999 merger that created ExxonMobil, Speedpass rolled out across Exxon, Mobil, and Esso stations. At its peak the system was accepted at more than 10,000 stations worldwide and counted millions of active users. In Canada, Esso stations adopted the Speedpass key tag, making it one of the earliest contactless payment options in Canadian fuel retail.

The physical tag era ended as smartphones took over. ExxonMobil retired the RFID key tag in the United States on June 30, 2019, directing users to the Speedpass+ app, which used phone location services or a QR code on the pump to authorize payment. Canada kept the key tag longer: beginning in December 2020, Imperial Oil introduced Tap at the Pump at Esso and Mobil stations and phased out key-tag readers at dispensers, though tags remained usable inside stores during the transition.

The Speedpass+ app launched in Canada in 2017 as the country's first fuel payment and loyalty mobile app. Beyond pay-at-pump, it stored credit cards, Esso and Mobil gift cards, and fuel discount cards, and it captured loyalty data on every transaction. Imperial ran the app for six years under the Speedpass+ name.

On December 6, 2023, the Speedpass+ app transitioned to the Esso and Mobil App. Accounts active within the previous two years migrated automatically, including linked payment cards. Accounts inactive for two years were deleted, along with gift cards, fuel discount cards, and receipt history. The rename retired the Speedpass consumer brand in Canada, aligning the app name with the retail station brands.

The Speedpass product line thus moved through three phases: RFID hardware (1997 to roughly 2020), a branded smartphone app (2017 to 2023), and absorption into the station-brand app that carries no Speedpass name at all. Each phase tracked a broader payment technology shift, from proprietary RFID to smartphones to platform-brand apps.

About Imperial Oil Limited

Who owns Imperial Oil?
Imperial Oil is majority-owned by ExxonMobil, which holds approximately 69.6 percent of outstanding shares. The remaining approximately 30.4 percent of shares are publicly traded on the Toronto Stock Exchange and NYSE American under ticker symbol IMO. By virtue of ExxonMobil's majority ownership, Imperial Oil is considered an entity which is not controlled by Canadians under Canadian law.

Is Imperial Oil publicly traded?
Yes, Imperial Oil is publicly traded on the Toronto Stock Exchange and NYSE American under ticker symbol IMO. While ExxonMobil holds a 69.6 percent majority ownership stake, the remaining shares are publicly traded. There are 509,044,963 common shares outstanding as of February 14, 2025.

Who is the CEO of Imperial Oil?
John Whelan is the Chairman, President, and CEO of Imperial Oil Limited. He succeeded Brad Corson on May 8, 2025, at the conclusion of the company's annual meeting of shareholders. Corson retired after a 42-year career at Imperial and ExxonMobil, having served as CEO since January 1, 2020.

Who founded Imperial Oil?
Imperial Oil was founded in 1880 by Jacob Englehart and Frederick Fitzgerald in London, Ontario, Canada. In 1898, Standard Oil of New Jersey (a predecessor to ExxonMobil) acquired a majority stake, establishing the ownership relationship that continues today.

What is Imperial Oil's revenue?
Imperial Oil reported revenue of CAD $46,918 million for fiscal year 2025, a decrease from CAD $51,359 million in FY2024. Net income for FY2025 was CAD $3,268 million, or $6.48 per diluted share, compared to CAD $4,790 million, or $9.03 per diluted share, in FY2024. The decline reflected lower commodity prices, partially offset by improved downstream margins.

How many people does Imperial Oil employ?
Imperial Oil employed approximately 5,000 regular employees at the end of 2025, down from 5,100 in 2024 and 5,300 in 2023. On September 29, 2025, the company announced a restructuring plan to reduce employee roles by approximately 20 percent, substantially completed by end of 2027, which would reduce the workforce to approximately 4,000.

What are the Kearl tailings leaks?
In May 2022, Imperial Oil detected tailings seepage at its Kearl oil sands mine that was not reported to the public for nine months. In January 2023, a separate berm overflow released 5.3 million litres of contaminated wastewater. The Alberta Energy Regulator fined Imperial $50,000 in August 2024 and laid nine charges in January 2025 under the Environmental Protection and Enhancement Act and the Public Lands Act. Indigenous communities were not informed of the initial seepage for nine months, leading to a lawsuit by the Athabasca Chipewyan First Nation against the regulator.

Founded: 1880
Headquarters: Calgary, Alberta, Canada
Company Type: Publicly Traded
Stock: TSX, NYSE American: IMO
Revenue: CAD $46.9 billion (FY2025)
Employees: approximately 5,000 (FY2025)

Visit Imperial Oil Limited website

View full company profile for Imperial Oil Limited

Where Is Speedpass Made / Based?

Headquarters: Calgary, Alberta, Canada

Speedpass Categories & Tags

Payment Contactless Rfid Mobile App Fuel Loyalty

Speedpass Recalls & Controversies

App transition problems: The December 2023 migration from Speedpass+ to the Esso and Mobil App drew significant user complaints. Canadian technology reviewers documented login failures, repeated session expirations, and confusion over whether Esso and Mobil gift cards and fuel discount cards would carry over. Some users lost access to stored balances temporarily while the migration sorted out. Imperial Oil advised customers that all payment methods and discount cards would be supported in the new app, and emailed affected users during the transition window.

Payment data exposure: Speedpass accounts stored credit card details and purchase history tied to a fueling location. When inactive accounts were deleted during the December 2023 transition, users who had not logged in within two years lost stored cards and receipt history permanently, a policy that drew criticism from users who discovered the deletion only when attempting to sign in.

No formal product recalls or regulatory actions have been recorded against the Speedpass brand itself. The controversies that have been documented concern the software transition rather than the payment system's security design.

Speedpass Ownership: Pros & Cons

Advantages

+ExxonMobil technology backing gave Speedpass early-mover status in RFID and app-based fuel payment
+Deep integration with the Esso and Mobil station network of roughly 2,600 Canadian sites
+Shared infrastructure with the U.S. Exxon Mobil Rewards+ platform lowered development cost
+Payment data gave Imperial direct visibility into customer fueling behavior

Considerations

-Proprietary fuel payment competes with universal wallets like Apple Pay, limiting adoption outside loyal Esso customers
-Brand equity built over 26 years was retired, requiring existing users to relearn the product under a new name
-The December 2023 migration deleted inactive accounts and stored value, generating customer complaints
-Payment functionality is confined to ExxonMobil-affiliated stations, with no use outside the brand network

Frequently Asked Questions About Speedpass

Sources & Further Reading

Competitors to Speedpass

budgetingpersonal-financewealth-tracking

Privately Owned

Monarch Money is privately owned, unlike Speedpass which is under a publicly traded parent company.

Imperial Oil Limited Stock Information

Jobs at Imperial Oil Limited

Latest News About Speedpass

People Also Searched

Discover popular brands and companies in the Finance & Fintech category and related searches from other users.

Brandbuy-now-pay-later

Afterpay

Block's buy-now-pay-later brand, offering interest-free installment payments across a global merchant network, acquired in 2022 for $29 billion.

Brand in Finance & Fintech

bnplfintech

Brandinvestment-technology

Aladdin

Comprehensive investment management technology platform developed by BlackRock, providing portfolio management, risk analytics, and trading solutions for institutional investors and asset managers.

Brand in Finance & Fintech

portfolio-managementrisk-analytics

Brandasset-management

AllianceBernstein

Global asset management brand majority owned by Equitable Holdings, managing roughly $850 billion in equities, fixed income, and alternatives from Nashville.

Brand in Finance & Fintech

investmentsmutual-funds

Browse All Finance & Fintech

Finance & Fintech

Who Owns Speedpass?

Twitter Facebook LinkedIn

Parent Company

Imperial Oil Limited

Founded

1997

Status

Publicly Traded

Headquarters

Calgary, Alberta, Canada