Visa Enables Electronic Payments Right From Your Car

Visa recently made their Token Service available to auto manufacturers, with the hope of increasing car-based commerce.

With the advent of wearable technology, smart phones, and electronic payments, paying for everyday purchases has become incredibly easy. A simple swipe of the wrist or pass of your phone and you’re good to go. Could it be any easier? Visa seems to think so. In fact, their most recent innovation makes payment so easy, you won’t even have to get out of your car.

This week, Visa extended their Token Service, making it available to auto manufacturers. The credit card company revealed that their goal was to enable “car-based commerce.” To do so, they’re also optimizing several other electronic payment forms, including Bluetooth and QR codes. The company hopes to make it possible for consumers to pay electronically, no matter the environment.

Visa’s newest feature of the Token Service was developed in partnership with ParkWhiz and Honda. So far, the payment service has two concepts:

  • The Honda app can sense when the car is low on gas and will direct the driver to the nearest gas station. Once there, the car can calculate the exact amount of gas needed along with the cost. The driver simply pushes a button on the app screen and the payment is made. He or she can also use the app to pay for items in the convenience store, and the app can even recognize rewards cards and loyalty programs.
  • The ParkWhiz app allows drivers to park their cars and pay by pushing a button. The app calculates the amount of time the car sits in the parking lot and the subsequent cost. When the driver is ready to leave, the dashboard screen displays the receipt, and the driver presses a button to complete the transaction.

The Visa Checkout car integration was released in Spain last year. This feature allows drivers to order, pick up, and pay for fast food without leaving the car. Though still in their early stages, the Visa Checkout platform and the Visa Token Service are set to revolutionize how we pay for goods on the go.

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