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    CiTTi Magazine – November 2023

    November 22, 2023By John Thornton
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Ticketing & Payments

Car IQ and Visa partnership enables digital toll payment for commercial fleets

John ThorntonBy John ThorntonJuly 18, 20232 Mins Read
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Car IQ, a developer of in-vehicle payment technology, has partnered with Visa to enable commercial fleets to transact directly with Visa’s merchants and banks, and purchase tolls, fuels parking, insurance, service, and repairs.

Car IQ’s Pay vehicle wallet technology is designed to enable vehicles to maintain their own payment accounts in order to connect and transact directly with merchants without using a physical card.

Central to the collaboration is the ability to add vehicle data to the transaction, which, according to Car IQ, enables real-time offers and personalised rewards for fleets, drivers, and merchants.

With Visa, Car IQ Pay incorporates real-time connected vehicle data before, during, and after payment. The partnership leverages Car IQ’s Know Your Machine technology, which authenticates a machine’s identity to enable all vehicle types to transact directly with merchants.

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“Cost management, transparency and a seamless experience are more important than ever for commercial fleet payments, with total spend reaching over US$80bn across cash, cheques, ACH and traditional fleet card payments,” said Veronica Fernandez, North America head of Visa Business Solutions.

“Through this collaboration with Car IQ, we’re excited to drive growth of vehicle-based payments that allow users to take control of their fleet business through enhanced and timely data capabilities that allow for real-time business decisions.”

Car IQ is also working with automotive OEMs to embed in-vehicle payments within consumer vehicles directly from the car’s infotainment system.

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John Thornton
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John joined Akabo Media in August 2019 and has worked in B2B publishing since 2013, editing engineering technology titles serving the automotive, marine and sports and entertainment venue sectors. Currently editor of City Transport & Traffic Innovation and Robotics & Innovation magazines, John co-ordinates the day-the-day operations of both titles, using independent editorial content as a platform to bring buyers and sellers together via print and online. In addition to the magazines, John also serves as a chair for the annual Road User Charging Conference in Brussels and can be found sniffing out breaking news stories throughout the halls of Akabo Media’s industry-leading exhibitions.

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