Toll transponder service E-ZPass and in-car payments firm PayByCar will collaborate on a new pilot program that will allow E-ZPass customers to use their devices for payments beyond tolls, like at parking lots, gas stations, or drive-thrus.
To participate, eligible E-ZPass users can put a “non-toll” account on their device, select a payment method, and pay wirelessly at eligible merchants.
If successful, the pilot, which is currently only available to a limited audience, could pioneer a new type of in-car payment. Car commerce is poised to rise, thanks to its ability to reduce friction and add convenience for drivers, while helping them multitask more efficiently during long commutes.
But right now, most car and payments players innovating in the space are focusing on the infotainment center, which is only available in connected cars. This pilot could open up car payments to anyone with an E-ZPass, which is an add-on device that can be placed in any car, in turn bringing them to a much wider and mainstream audience, and potentially giving payments firms more access to a market worth up to $212 billion.
Peter Newman, research analyst for BI Intelligence, Business Insider’s premium research service, has written a detailed report on digital engagement and the connected car that:
- Analyzes trends in digital time spent and the growth of connected cars.
- Explains the connected-car ecosystem, where service providers fit in, and what relationships they need to succeed in the space.
- Provides a detailed explanation of the future of connected cars, which will expand media consumption and offer new e-commerce and payments opportunities.
Interested in getting the full report? Here are two ways to access it:
- Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you’ll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> Learn More Now
- Purchase & download the full report from our research store. >> Purchase & Download Now