Sirius XM SIRI and Visa V announced their plan to introduce an in-vehicle payment solution at the recent Consumer Telematics Show in Las Vegas. The companies are aiming to enhance the way customers spend their time in-vehicle and plan to offer e-wallet to manufacturers who deploy SiriusXM’s connected vehicle services.
The SiriusXM e-wallet is being designed to integrate into vehicle dashboards, aiming to allow drivers and their passengers the ability to complete tasks and make purchases like paying for coffee, finding and pre-paying for gas, locating and paying for parking, purchasing movie tickets, and paying tolls. Users will activate and authenticate payment with their Visa account using biometric authentication, like voice and touchscreen commands. The solution will be powered by Visa and SiriusXM Application Programming Interfaces (APIs).
Visa's past work on in-car payments included a 2017 pact with Honda, a 2015 in-car food ordering agreement with Pizza Hut and Accenture, and a prototype demonstrated in Canada.
Investing in technology has always been Visa’s core growth strategy. It consistently invests in further growing its already leading position in the payments markets and minimizing the impact of fraud and protecting consumer and merchant information. Automotive wallets is the first step towards seamless payments, which when followed by personalized loyalty and rewards programs can create habits and educate consumers on seamless and real time payments.