Until not so long ago, cars were simply a means of getting from point A to point B. But the industry's biggest innovators are constantly developing its user experience & mobility as a whole. And thanks to this latest connected car solution, Daimler drivers will be able to pay for gas, parking, and numerous goods and services from the convenience of their dashboard - a big step in the right direction of innovative mobility.
In-car commerce is still in its early stages, but we can clearly see that it is finally picking up steam and is expected to grow exponentially in the next 5 years as payment giants are partnering with leading car manufacturers to drive innovation in this sector.
When you hear about linking payments to your car dashboard, you might wonder: how secure is my payment data if someone else gets access to my car?
But your biometric payments authentication is actually required to complete a transaction.
On top of that, Visa's tokenization services play a big role in making this solution extra secure.
Daimler is the first automaker to use Visa's Cloud Token Framework
A fun fact to mention, Daimler is the first automaker to use Visa's Cloud Token Framework, allowing customers to perform two-factor authentication without having to switch between multiple devices, like your mobile phone enabling this integrated experience.
Mobility-as-a-service actually goes back a long way, when public transportation providers innovated separately to make commuting more convenient. But today, instead of having to locate and pay for each mode of transportation separately, MaaS platforms allow you to book door-to-door rides in a single app.
However, the challenge now is: how to create a network of different transport modes and providers under one roof.
There are a number of drivers for the accelerated growth of MaaS. Let us start with perhaps the most pressing driver: sustainability. The 26th Climate Change Conference, held last week, emphasized the importance of taking action to combat climate change and the role mobility and financial solutions play in achieving that.
Aside from the increasing urgency to tackle climate change, today's technologies enable governments, transport providers, and payment platforms to introduce sustainable, user-friendly transport options that are accessible to the public.
That being said, the urgency to reverse the effects of climate change is greater than ever, and sustainability is no longer a “passing trend”, but an important issue that needs to be addressed by all stakeholders.
That's why PaymentGenes is organizing a roundtable discussion with experts from around the world to delve deeper into combining sustainability and business growth, and to address complicated payments issues that stand in the way of Mobility-as-a-Service.
To learn more about this roundtable, sign up now and reserve a spot on November 17 at 4:30pm Central European Time.
With non-cash-transactions continuing to surge, the world's central banks are working fast to create digital versions of national currencies. In the latest news, Japan said it aims to launch a yen-based digital currency in 2022. This digital currency will be backed by bank deposits and use a common platform to speed up large-scale fund transfers and settlements among companies. So what is the digital currency hype all about and what implications does this have for the world of payments?
Something peculiar is unfolding between Amazon and Visa. It’s not unusual for merchants to drop schemes and networks, so the news that Amazon is considering shifting its US co-brand credit card from Visa to Mastercard, is not particularly alarming…. but adding that they banned the use of Visa cards in the UK, raised Visa credit charges in Australia, and that they are incentivizing their customers to use other payments methods, then one starts to wonder:
Open banking, once introduced as a revolution in banking by allowing for free movement of customer financial data, is currently one of the hottest topics in FinTech Advocates say it could democratize data and fuel a fintech revolution. But…. reality often fails to live up to its potential and the dream, as open banking has been received with an underwhelming adoption rate, non-cooperating banks, and unimpressed regulators.