2023 Roundup: Navigating the Rise of In-Car Payments

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Car-venient Fintech: Buckle Up for In-Vehicle Payments! Ever binge-watched the futuristic Bond or Star Wars movies, marvelling at those high-tech cars and imagining the convenience of making payments directly from the driver’s seat? Guess what, in the financial world, paying for stuff straight from your ride is no longer a cinematic fantasy. Picture this: you roll up to a fuel station (for the eco-conscious, an EV charging station), or parking spot, and voila! Your dashboard lights up, presenting a dazzling array of payment choices. You select and authenticate your transaction with biometrics or voice-enabled authentication. The car, sly as a secret agent, smoothly handles your parking bill, winking at the future. It’s a quirky ride, and automotive manufacturers are totally grooving with this tech-tastic twist!  As of 2023, several contenders have thrown their hats into the in-vehicle payment arena. By collaborating with Payment Service Providers (PSPs), car manufacturers are revving towards weaving in-car payments into the very fabric of the driving experience. From covering your Starbucks tab to settling your car dues at the toll or parking station, in-vehicle payments are reshaping the transaction landscape for individuals. Let’s cast our gaze upon a handful of collaborations in 2023 that highlighted the trend […]

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