Imagine paying for parking, tolls and even coffee directly from your car, without having to touch your phone or wallet. According to a survey by Verra Mobility, this futuristic scenario is already an idea many motorists are ready to welcome.
Of 2,000 motorists surveyed who own or lease a 2019 or newer vehicle, 51 percent find the idea of their car acting as a “digital wallet” appealing, and 54 percent say they would activate this feature if it were available.
The rise of connected vehicles
The idea of the car as a digital wallet is part of the evolution of connected vehicles. Cars equipped with internet connectivity and advanced infotainment systems are becoming increasingly commonplace.
In 2020, 91 percent of new cars sold were connected vehicles, and that figure has been growing steadily. By 2025, it’s expected there will be over 400 million connected vehicles in service worldwide, compared with around 237 million in 2021.
What drivers really want
Connected vehicle services are gaining ground in America, with 57 percent of respondents willing to pay more for enhanced connected services. Many already use systems like FordPass, Subaru STARLINK, and Stellantis UConnect to remotely start or locate their car, or check the fuel level via their phone.
However, 70 percent of participants prefer these services to be accessible directly via their car's infotainment system, without having to use their phone. This underlines a growing interest in integrated solutions, such as digital wallet functionality.
In-car payments and subscriptions
Increased vehicle connectivity also opens the door to new business models for automakers. According to the survey, 40 percent of respondents have already paid for or renewed a subscription via a carmaker's app, and 39 percent have even subscribed to services directly from their car's infotainment system.
With possibilities such as automatic payment in parking garages or at the drive-thru, this trend could transform the way drivers use their vehicles.
As connected vehicle technology evolves, so do the services and features available to drivers. While some are still reluctant to hand over so much control to their cars, the interest in more intelligent, autonomous vehicles is clear. The digital wallet could soon become a standard feature of new-generation vehicles.