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Visa Extends Secure Payments to the Automotive Industry

Visa Inc. is making the Visa Token Service available to auto manufacturers, helping to pave the way for easy car-based commerce that includes fuel payment.



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To further advance car-based commerce, Visa is also offering a range of related digital payment solutions, including new standards for Bluetooth (BLE) and QR codes that could help expand enablement of mobile payments for both merchants and consumers in any environment.

In partnership with Honda and ParkWhiz, Visa will demonstrate fuel and parking proof-of-concept apps at Mobile World Congress in Barcelona.

The new Fuel App Concept allows drivers to pay for gas in one click without leaving the car. The fuel app detects when the car is low on fuel and navigates the driver to nearby gas stations. Once parked next to the pump, the app knows the exact amount of gas needed to fill the tank and can calculate the cost to fill up. The driver can also purchase convenience store items with full integration of discount and loyalty/rewards programs.

“The notion of transforming a car into a platform for payments is not as far off as some may think, and we have made a great deal of progress since first introducing the idea one year ago,” said Jim McCarthy, executive vice president of innovation and strategic partnerships, Visa Inc.

 “Working with Honda to test these prototypes gets us another step closer toward commercial reality, which we think provides exciting opportunities to everyone who plays a role in the payments and automotive ecosystems,” he added.

The companies currently expect to test the fuel app concept in Northern California and the parking app concept in New York City, both over a three-month period, starting this spring.

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