The future of mobility continues to evolve at an unprecedented pace, and integrated vehicle payments are likely to play a pivotal role in redefining the driver and passenger experience. By automating and integrating the purchase and payments of services using vehicle data and connectivity, drivers will benefit from convenient and simplified experiences. This trend will eventually help increase customer usage and engagement for service providers while enabling innovative, beneficial charging models, which may favor the adoption of in-vehicle payment services in the long run. Another factor largely contributing to the growth of the global in-vehicle services market size is the rapidly evolving digital payment landscape that gained momentum due to the expansion of traditional financial services during the pandemic. According to the Global Findex 2021 database published by the World Bank: An estimated 76% of the adult population globally had an account with a mobile money provider, a bank, or any other financial institution as of 2021. In 2021, two out of three adults worldwide could make or receive digital payment, with around 57% of these happening across developing economies. These estimates highlight the accelerating shift in consumer behavior and the growing need to introduce better digital payment solutions, […]
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