8 In-Car Innovations in Payments

March 11, 2016 11:36 AM

Milos Licina

Nothing accelerates innovation quite like a new car. But before consumers can outfit their vehicles with James Bond gadgetry, they need a way to pay for it all from behind the wheel.

Visa

Visa's plan for in-car payments is all about the destination. Its prototype in-car payments system focuses on pre-purchasing things before the consumer's arrival. It is designed to purchase food and fuel before the driver arrives at the restaurant or gas station.

The General Motors Corp. Chevrolet logo is seen at a car dealership in Colma, California, U.S., on Tuesday, July 5, 2011. The Detroit-based automaker, 33 percent owned by the U.S. after its 2009 bankruptcy, has 280,000 Silverado and GMC Sierra pickups on dealers’ lots around the country. Photographer: David Paul Morris/Bloomberg *** Local Caption ***

David Paul Morris/Bloomberg

MasterCard and GM

MasterCard is working with General Motors to develop a wireless key fob that can unlock car doors, enable its security system and make payments.

Gas prices are displayed as cars drive past an Exxon Mobil Corp. station in Cincinnati, Ohio, U.S. on Monday, Jan. 27, 2014. Exxon Mobil Corp. is scheduled to release their fourth quarter earnings on Thursday, Jan. 30, 2014. Exxon Mobil Corp. is scheduled to release earnings figures on Jan. 30. Photograper: Luke Sharrett/Bloomberg

Luke Sharett/Bloomberg

ExxonMobil

ExxonMobil is making a big push with its Speedpass app, most recently adding Apple Pay as a funding source for mobile fuel payments.

Serban Simu watches the dollars tick-off as he fills his car at a Berkeley, California Chevron station April 30, 2004. ChevronTexaco Corp., the second-biggest U.S. oil producer, said first-quarter earnings rose 33 percent to the highest since the 2001 merger that formed the company as record gasoline prices doubled refining profit. Photographer: Noah Berger/Bloomberg News.

Noah Berger/Bloomberg News

Chevron

Chevron also has plans to support Apple Pay. It's focusing first on acceptance in convenience stores, while also in active discussion with Apple about supporting its mobile wallet at the pump.

Hughes Petroleum

Hughes Petroleum in Canada allows customers to purchase gas and car washes from an app, enabling them to stay in their warm cars for a task that would normally take them out into below-freezing temperatures.

The logo of Daimler AG's Mercedes-Benz brand is displayed on the company's SLK 55 AMG vehicle during the press day of the Seoul Motor Show in Goyang, South Korea, on Thursday, March 28, 2013. The show runs from today until April 7. Photographer: SeongJoon Cho/Bloomberg

SeongJoon Cho/Bloomberg

Mercedes-Benz

The first big purchase all motorists make is buying the car itself. Mercedes-Benz has tested a system that lets motorists review and pay their auto loan and lease statements from within their cars.

A 2004 Toyota Camry sits on display during an OnStar event at the 2011 International Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Monday, Jan. 4, 2011. General Motors Co. (GM) will begin selling its OnStar communications service for use in non-GM vehicles and autos already on the road to add to its more than 6 million subscribers, the company announced at CES today. Photographer: Andrew Harrer/Bloomberg

Andrew Harrer/Bloomberg

OnStar

Even drivers of electric cars need to refuel. GM's OnStar developed an app for use at public charging stations that not only handles payments but estimates the cost of the fill-up and sends an alert when the vehicle is fully charged.

parking

gofotograf/Getty Images/iStockphoto

Parking Panda

There's more to in-car payments than buying gas. Parking Panda is working to enable motorists to search for and purchase parking spots from a screen in the car's dashboard.

Mobile payments

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