This Connected Car Lets Drivers Pay for Gas Through Their Car's Dashboard
Christopher Magsambol — September 16, 2015 — Autos
References: theglobeandmail & marketingmag
The Toronto International Film Festival (TIFF) is being used as a platform by Visa to introduce the future's "Connected Cars," vehicles that let drivers pay for gas and other goods through their dashboard rather than with their credit card. This concept integrates the online payment service 'Visa checkout' into car dashboards, allowing drivers to make payments directly via their vehicle.
Visa believes that connected cars can replace credit cards in a few years. At TIFF, a model of the car is available at one of the festival's busiest hubs, Roy Thomson Hall. The car is used in an online demonstration that explains how the connected car will ultimately work. The model is surrounded by tall projection screens that allow festival goers to immerse themselves in a country western shop or Parisian bakery -- where consumers are able to make purchases and payments with convenient touchscreen.
The virtual installation is meant to show people how easy it is to pay for gas or make other purchases with their car dashboards rather than their wallets.
Visa believes that connected cars can replace credit cards in a few years. At TIFF, a model of the car is available at one of the festival's busiest hubs, Roy Thomson Hall. The car is used in an online demonstration that explains how the connected car will ultimately work. The model is surrounded by tall projection screens that allow festival goers to immerse themselves in a country western shop or Parisian bakery -- where consumers are able to make purchases and payments with convenient touchscreen.
The virtual installation is meant to show people how easy it is to pay for gas or make other purchases with their car dashboards rather than their wallets.
Trend Themes
1. Connected Cars - The integration of payment services, such as Visa Checkout, into cars' dashboards is a disruptive innovation opportunity to make purchasing while driving easier.
2. Cashless Payment - Using connected cars to facilitate cashless payments through their dashboard provides a disruptive innovation opportunity to streamline transactions and migrate the customer experience from physical payments to digital ones.
3. In-car Purchases - The possibility of making purchases in-car through connected platforms presents the lucrative disruptive innovation opportunity to merge e-commerce with the automobile industry.
Industry Implications
1. Automotive - The integration of payment services into cars' dashboards provides a disruptive innovation opportunity in the automotive industry to streamline and revolutionize the payment processes for drivers.
2. Fintech - The creation of connected cars that utilize payment processes currently seen in financial industries, such as Visa Checkout, can provide a disruptive innovation opportunity to the financial technology industry.
3. E-commerce - The incorporation of online payment services into the in-car purchasing process presents a disruptive innovation opportunity to e-commerce as it allows them to expand beyond traditional modes of purchasing.
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