Your Wallet on Four Wheels?
By Consumers Union on Friday, April 17th, 2015
Could the ultimate mobile payment device be your car? Payments Source reports that financial technology providers, payment card networks, banks, car manufacturers and retailers are all thinking about ways to turn cars into wallets. For example, you could – maybe, someday – use your car to order a pizza from Pizza Hut and pay via Visa Checkout.
Or you might be able to say, “Buy now” to purchase a song you hear while driving down the highway. Or your car may pay for your gas or parking spot without you having to take out a card or really do much of anything to make the payment.
If this sounds far off, it might not be. The article quotes Doug Brown, head of mobile for financial services company FIS: “Car manufacturers are saying they want to make cars into a wallet, but the phone is already in there, so what can we do different or better? That is what we are striving to find out and are in the early stages of doing.”
What do you think about paying for things with your car? Share your thoughts in the comments.