The latest publication from Hamburg-based online research firm yStats.com: “Snapshot: Europe In-Car Payment Market and Trends 2023” summarizes the emerging consumer trends and developments within the mobility payment and in-car payment market in Europe. Some other key highlights of the report include various use cases of in-car payments taking place at varied growth patterns globally, with a focus on Europe.
Europe’s automotive industry shifts as car owners adopt in-car payments for various services
The automotive industry is witnessing a remarkable shift as car owners across Europe increasingly embrace the convenience of in-car payments for various services. Recognizing this growing demand, car manufacturers are swiftly incorporating cutting-edge voice assistant technology to enable hassle-free ordering and payment for drive-through services, making coffee and food runs a breeze.
One area witnessing significant transformation is toll payment, where the European Electronic Toll Service is paving the way for a seamless communication system and integrating various preferred payment methods. Collaborating stakeholders throughout the value chain are making in-car payments, particularly for parking, a reality. One of Europe’s largest car park operators, Apcoa, now offers a seamless contactless parking payment service in 13 European countries, facilitating payments via the car’s infotainment screen.
Car manufacturers in Europe partner with payment companies for in-car parking payments
Car manufacturers are forging strategic partnerships with payment companies and non-traditional players like car parks and gas stations to make in-car payments an integral part of the driving experience. For instance, the collaboration between Mercedes Benz Group and Visa has resulted in the MercedesPay service, enabling in-car parking payments across 14 European countries, encompassing a staggering 80,000 parking lots. Mercedes owners in Germany can even utilize biometric authentication through a fingerprint sensor, eliminating the need for passwords and PINs.
Germany shows high interest in using car displays for in-car payments, especially for parking and refueling
A recent survey in Germany revealed the widespread interest in utilizing car displays for payment of goods and services, with 74% of respondents preferring to make in-car payments for parking and 72% for refueling or charging electric vehicles. Despite the tremendous growth of in-car commerce and payment services, respondents expressed concerns about payment security, while some of them were worried about data privacy.
As the trend towards in-car payments gains traction, car manufacturers are committed to addressing these concerns and providing secure, seamless, and user-friendly solutions for European drivers. With innovation at its core, the automotive industry is driving towards a future where in-car payments enhance the driving experience, transforming mobility in ways previously unimagined.
