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Idea Bank Provides a Pay as You Drive Model for Leasing Vehicles

 - Jan 17, 2017
References: & springwise
As car-sharing platforms and on-demand apps like Uber gain popularity, this Polish bank now offers a pay as you drive car-leasing service. Idea Bank developed a fintech project called Happy Miles, offering an affordable option for individuals and companies in Poland.

In addition to a small monthly fee, customers will only have to pay for what they drive when leasing vehicles. A built-in GPS system reports mileage or how many kilometers were driven to the company that leased the car. This pay as you drive system helps small businesses avoid cash flow issues and larger businesses with vehicle fleets "should benefit from efficiency savings made in volume" according to SpringWise.

This sharing economy-style solution helps address transportation costs. This incentive also is also beneficial to the environment.