E-Z Pass car drivers now have another mobile payment option that offers immediacy and convenience. As the following article explains, Verdeva has launched PayByCar, a vehicle toll transponder-based system that will enable motorists to seamlessly pay for gas, food, and other services at participating retailers.
PayByCar™, launched by Verdeva, Inc. today, announced a breakthrough in-vehicle payment solution that lets drivers use toll transponders to simplify and speed non-toll transactions, such as pumping gas and paying at quick-serve restaurants and car wash drive-thrus and other automotive services. The connected car company just inked an unprecedented pilot program agreement with the E-ZPass Group under their “Driven by E-ZPass©” brand which allows E-ZPass© customers to open a separate non-toll account with Verdeva’s PayByCar program and link their toll transponder(s) to that account, eliminating payment hassles so drivers can get back on the road in no time at all.
“American drivers spend hundreds of hours behind the wheel every year. When they stop for coffee or to fill up their tank, the last thing they want is to be waiting in long car lines and fumbling for cash or credit cards. But, too often, that’s exactly what happens,” said Kevin Condon, CEO and founder of Verdeva and PayByCar. “PayByCar changes all that, making in-vehicle payment fast and easy.”
The E-ZPass Group is comprised of toll entities stretching across 17 states that operate the E-ZPass© electronic toll collection program. It is the largest interoperable toll collection program in the world.
PayByCar, which is currently in pilot, is frictionless. Drivers opt-in to the program and choose the payment method (credit or debit card, e-wallet, etc.) that they’ll be using for non-toll charges. PayByCar customers grant permission to use their E-ZPass© transponder to look up a separate PayByCar account. PayByCar charges are not processed through the E-ZPass toll accounts, but rather through a separate account directly with Verdeva. When a member drives up to a participating retailer, PayByCar recognizes the toll transponder on the car and the presence of the driver’s cell phone. It authorizes and automates payment using the member’s chosen method for Verdeva non-tolling transactions, which is on file with PayByCar, and offers personalized rewards
Mobile payment methods are driving a new opportunities for merchants looking to engage customers looking for fast and easy ways to make and pay for goods and services. While the smartphone has become the platform of choice for popular mobile payment apps, the connected car will become a new sales channel for merchants that cater to frequent stop-and-go drivers at gas stations and quick service restaurants (QSRs). While PayByCar is being rolled out on a limited basis, this will be a closely-watched test to see the how drivers will respond to this emerging payment method.
Overview by Raymond Pucci, Associate Director, Research Services at Mercator Advisory Group
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