Visa, SiriusXM unveil plans for in-vehicle payments platform
Visa has announced a deal with SiriusXM to allow vehicle-based mobile payments using a connected e-wallet from SiriusXM. The service would be available in future SiriusXM-enabled vehicles manufactured by car companies that opt to participate in program, according to a company release issued during the Consumer Telematics Show in Las Vegas.
The companies, who announced the deal at the event, said the connected payment service will allow drivers to pay for everything from coffee to highway and bridge tolls, as well as to locate and pay for parking, according to the release.
The service will use biometric authentication of Visa account holders through voice and touchscreen commands in order to avoid distractions that could endanger drivers or others.
"Teaming up with SiriusXM is a big step forward in Visa’s quest for connected commerce across the automotive ecosystem," Olabisi Boyle, vice president of IoT Platforms at Visa, said in the announcement. "SiriusXM’s solid network with automotive manufacturers and established consumer interfaces, combined with our payments expertise, will help fast-track the endless opportunities for drivers to safely and securely accomplish tasks during their commute."
Visa plans to establish virtual payment relationships with secure authentication throughout its retail network as part of the plan. Visa and SiriusXM are in the process of making presentations to automakers.
Peter Polit, vice president and general manager of connected vehicle strategy and business development at SiriusXM, presented the strategy at the show, according to the companies.
Sirius also owns Automatic Labs, which allows most vehicles made in 1996 or later to be converted into connected vehicles, the company said.