Connected Car
The company’s machine banking payment platform, Car IQ Pay, enables vehicles to transact securely with merchants and service providers. Car IQ is targeting the $650 billion spent annually on vehicle services using credit cards, debit cards, and automated clearing house (ACH), where people must perform and manage the transaction. For example, when a vehicle requests to transact, using these behavioural identities, we answer questions such as is this the right vehicle and does this vehicle need the service? This 360-degree insight into the vehicle and vehicle services and its spend is where a new form of transactional security comes from. We take the vehicle sensor data and process this within the vehicle.