Connected Car
Car IQ Inc., a payment-platform provider for vehicles, has partnered with Visa Inc. to enable acceptance of its Car IQ Pay wallet for automobiles across the Visa network. Drivers can use the Car IQ wallet to pay for fuel, tolls, parking, insurance, services, and repairs without using a physical or virtual card. “Instead of a vehicle triggering a car to make [an in-car] payment, our technology triggers the vehicle ID to validate the transaction,” says Car IQ chief executive Sterling Pratz. Other card networks have expressed interest in Car IQ’s wallet technology, Pratz says. Our vehicle wallet allows banks and merchants to trust payments from vehicles, as well as any other IoT device, over the Visa network.”