Visa and SiriusXM Team Up to Fast Track the Future of In-Vehicle Commerce
SiriusXM to enable Visa account holders to pay for coffee, gas, parking, movie tickets and more in-vehicle
The first collaboration between the world’s leader in digital payments and the broadly adopted connected vehicle services provider in North America
NEW YORK, Jan. 7, 2019 /PRNewswire/ — Visa and Sirius XM Connected Vehicles Services Inc., a subsidiary of Sirius XM Holdings Inc. (NASDAQ: SIRI), announced today onstage at the Consumer Telematics Show in Las Vegas their plan to revolutionize the driving experience with a new in-vehicle payment solution.
Visa and SiriusXM are working to enhance the way customers spend their time in-vehicle and plan to offer the SiriusXM eWallet to manufacturers who deploy SiriusXM’s connected vehicle services, the broadly adopted connected vehicle platform in North America, serving multiple major automotive brands.
The SiriusXM eWallet is being designed to integrate into the dashboard and will allow drivers and their passengers to complete and make purchases for everyday tasks on-the-go: shop and pay for coffee, find and pre-pay for gas, locate and pay for parking, purchase movie tickets, seamlessly pay tolls, and more. Users will activate and authenticate payment with their Visa account using biometric authentication, like voice and touchscreen commands, to eliminate driver distractions during the transaction.
Powered by Visa and SiriusXM application programming interfaces (APIs), the solution can draw on a range of technologies to enable safer and more secure commerce, including the Visa Token Service, which allows an extra layer of security for payments.
“Teaming up with SiriusXM is a big step forward in Visa’s quest for connected commerce across the automotive ecosystem. SiriusXM’s solid network with automotive manufacturers and established consumer interfaces, combined with our payment expertise, will help fast-track the endless opportunities for drivers to safely and securely accomplish tasks during their commute,” said Olabisi Boyle, Vice President – IoT Platforms, Visa.
“Visa is the world’s leader in digital payments and our Connected Vehicle Services group has deep roots and a broad reach in the auto industry,” said John Jasper, Senior Vice President for Sirius XM Connected Vehicle Services. “Our work with Visa is a significant step in establishing the next generation of vehicle-to-everything connectivity, transforming the vehicle into a ‘hub’ that provides for real-time, convenient transactional services to drivers and passengers.”
To implement these services, Visa is establishing virtual payment relationships through its wide-ranging network of retailers and providing secure authentication capabilities for added security, while SiriusXM is developing the next-generation protocols needed to establish real-time connectivity and in-vehicle interfaces with a broad variety of personalized content and data aggregated from a network of platforms. This suite of services will be showcased to automobile manufacturers during 2019.
Visa and SiriusXM’s new in-vehicle payment solution is being presented by Peter Polit, Vice President and General Manager of Connected Vehicle Strategy and Business Development at SiriusXM, today, January 7, at the Consumer Telematics Show in Las Vegas, Nevada.
For more information, visit https://youtu.be/8VDpqNh1FGQ.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, https://usa.visa.com/visa-everywhere/blog.html and @VisaNews.
About Sirius XM Connected Vehicle Services Inc.
Sirius XM Connected Vehicles Services Inc., a subsidiary of Sirius XM Holdings Inc. (NASDAQ: SIRI), delivers a broadly adopted connected vehicle platform in North America. Sirius XM Connected Vehicle Services can be found in many makes and models from various manufacturers, and give customers access to a suite of safety, security, and convenience services including automatic crash notification, enhanced roadside assistance, remote door unlock, remote start, stolen vehicle recovery assistance, turn-by-turn navigation, integration with smart home devices and more.
SiriusXM also owns Automatic Labs, which creates aftermarket products that can transform most vehicles model year 1996 or later into connected vehicles. By pairing Automatic’s install-it-yourself adapter and consumer friendly mobile application, drivers are able to access many important safety and convenience services. Additionally, developers can use the Automatic platform to build services and applications that enhance the driving experience, and auto dealers can use Automatic technology to better serve and stay connected with their customers. For more information, visit www.automatic.com.
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