| Press Release

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.

About Visa

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.

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are dificult to predict and generally beyond our control. Actual results and the timing of events may difier materially from the results anticipated in these forward-looking statements.

The following factors, among others, could cause actual results and the timing of events to difier materially from the anticipated results or other expectations expressed in the forward-looking statements: our substantial competition, which is likely to increase over time; our ability to attract or increase the number of subscribers, which is uncertain; our ability to profitably attract and retain more price-sensitive consumers; failure to protect the security of personal information about our customers; interference to our service from wireless operations; a decline in the efiectiveness of our extensive marketing efiorts; consumer protection laws and their enforcement; our failure to realize benefits of acquisitions or other strategic initiatives, including the acquisition of Pandora Media, Inc.; unfavorable outcomes of pending or future litigation; the market for music rights, which is changing and subject to uncertainties; our dependence upon the auto industry; general economic conditions; existing or future government laws and regulations could harm our business; failure of our satellites would significantly damage our business; the interruption or failure of our information technology and communications systems; rapid technological and industry changes; failure of third parties to perform; our failure to comply with FCC requirements; modifications to our business plan; our indebtedness; damage to our studios, networks or other facilities as a result of terrorism or natural catastrophes; our principal stockholder has significant infiuence over our afiairs and over actions requiring stockholder approval and its interests may difier from interests of other holders of our common stock; impairment of our business by third-party intellectual property rights; and changes to our dividend policies which could occur at any time. Additional factors that could cause our results to difier materially from those described in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31, 2018, which is filed with the Securities and Exchange Commission (the “SEC”) and available at the SEC’s Internet site ( http://www.sec.gov ). The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.

Media Contacts

Patric Reilly
SiriusXM
[email protected]

Kevin Bruns
SiriusXM
[email protected]

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