Leveraging Visa's existing Capabilities and API's, the Innovation team explored the Automobile as a token, addressing key pain points consumers have today in payments.
Parking, Paying at the pump, Meters and Tolls, Street Parking, QSR (Fast food drive though experiences) were all areas of focus.
Visa Token Service
Available in over 100 markets, Visa Token Service creates a secure environment for commerce by replacing a consumer’s sensitive credit card information with a unique identifier or token. Our partners can use Visa Token Service to offer in-car digital wallet payments—and our tools make it easy to manage the entire token lifecycle.
CyberSource Payment Management
CyberSource’s product offerings are examples of Visa’s continued investment to deliver industry-leading products and capabilities to our seller and acquirer parteners. The CyberSource platform enables sellers to accept payments online, in-app or on the mobile web and in-person. Businesses can enable in-car payments more easily by connecting to CyberSource.
Token ID
The combination of Visa’s card network tokenization capabilities with the local and account tokenization technology of Token ID facilitate safer, more secure payments across a broader range of global commerce types, including the connected car.
Visa Direct
Visa Direct, Visa’s real-time push payments service, reverses the traditional card payment flow by allowing payment originators, through their acquirer, to push funds directly to cards, better meeting consumer and business needs.
Sirius XM Partnership
To enable these concepts, we partnered with SiriusXM, who was able to fast track the technology into the software vs a longer path with the auto manufacturers and longer timelines.
The in-car payment system piggybacks on SiriusXM existing voice-controlled built-in entertainment ecosystem. The current version supports payments for gas, food, parking, and tolls, using tokens to secure transactions. This could open the door for even more payment experiences, including allowing for commuters to make purchases from retail stores.
Honda Partnership with Visa Innovation
Pay to park using the in dash unit.
Gas pump payment experience using the in dash unit.