Connected Car
Vehicle payment startup Car IQ and digital payments giant Visa have teamed up to enable Car IQ’s in-dash vehicle wallet for purchases of fuel, tolls, parking, insurance, service, and repairs from merchants on the Visa network. Car IQ created the fully-automated vehicle payment system using its patented machine identity verification process, Know Your Machine. The system tracks spending, cross references and authenticates purchases, Car IQ said in a statement. Sign upThrough the partnership, the companies will be able to reach a large share of the connected vehicle payment market, which is expected to reach $600 billion by 2030, according to Ptolemus Consulting Group. Car IQ is currently accepted at more than 25,000 fueling locations nationwide at retailers including Shell, Sunoco, Circle K, Kum & Go, and Sinclair.