We accept cash, card and sedan


Juniper Research estimates that by 2025, people worldwide could spend $86 billion on in-vehicle payments.


Photo:

Leslie Plaza Johnson/Zuma Press

are consumers increasingly pay with mobile devices such as phones and watches. But what about her most portable possession, her car?

The idea of ​​a car serving as some sort of giant metal card — say, an ID card stored in a vehicle’s computer that’s transmitted with voice authorization to a payment terminal at a drive-through — isn’t entirely new. However, until now it has not been widely used.

That might change. A new report from Juniper Research estimates that people worldwide could spend a staggering $86 billion on in-vehicle payments in 2025, up from less than $1 billion this year. The vast majority of that, or almost 80%, is used for fuel or electric vehicle charging, according to figures from Juniper. But people could also spend more than $10 billion on in-vehicle food and drinks.

The report mentions a number of industry collaborations, e.g. B. between

Honda engine

and

Visas,

who helped get the parts ready for wider acceptance. Even

Goldman Sachs

seems to be trying to jump up. The Wall Street Journal reported Aug which the bank competed to issue

General Motors

Credit cards, alongside offering vehicle payments.

In theory, then, EVs and digital payments could slowly merge into consumer megaplay. If that doesn’t excite day traders, it won’t.

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Appeared as “overheard” in the September 25, 2020 print edition.

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