Honda cars to be powered by in-vehicle payment system from Visa

6 January 2017

Visa is partnering with Honda over the introduction of mobile payments using smart car capabilities. The partnership will bring in-vehicle payments for fuel and parking services with the demonstrations to be done using fuel pumps of Gilbbarco Veeder-Root and smart parking meters of IPS Group Inc.

Car owners driving Honda vehicles will be able to quickly and easily make in-vehicle payments. According to a spokesperson for Honda Developer Studio, that integrating the latest achievements in the financial technology market into the car the company will help customers to make payments from the comfort of their cars.

The system will provide notice to drivers of the possibility to make payment for fuel or parking place from their vehicles if they are close the smart parking device or fuel pump. Amounts of some purchases will be displayed on the dashboard of the vehicle and all the driver will need to do is to press the button to confirm the transaction.

Spokesperson for Visa Inc. noted in the statement that the partnership with Honda represents a host of incredible opportunities for the industry in general, both financial and car making, while streamlining a number of tasks being possible from the car.

Transactions made from Honda cars will be secured by Visa Token Service technology which protects personal information using the tokens through the transaction process. The technology is viewed as a key method in securing transactions.

Honda reported ongoing discussions with other companies over further development of innovative cars with in-vehicle payment capabilities.

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