PayByCar is a payment system that streamlines purchases made in and from cars. Instead of going through the often-clunky process of handing a debit or credit card back and forth between driver and cashier.
In-vehicle purchases exceed $200bn yearly. From toll roads to car washes, drive-through coffee stands to fast food restaurants, paying on the go accounts for a significant portion of daily purchases. If you can imagine paying at the pump with an E-Z Pass, then you’re on the right track to understanding PayByCar.
PayByCar allows people to forego the usual card- or phone-based transaction. PayByCar transponders reduce in-vehicle transaction times by eliminating the need of a middleman.
Credit unions who wish to partner with PayByCar can offer their members a simple, easy payment system for in-vehicle transactions. In-vehicle payment systems are a growing technology with increasing demand. Giving members an in-vehicle payment option can reduce their transactional friction and increase their appreciation for their credit union’s services.