Car IQ, the first payment solution developed specifically for fleet vehicle has just joined the Visa Fintech Fast Track Program.
As a Fintech Fast Track partner, Car IQ can more easily leverage the reach, capabilities, and security that VisaNet, the company’s global payment network, offers.
This new offering will give Car IQ the ability to extend the reach of its payment solution that provides fleet customers an easier, more secure way to pay for fuel, parking, and more. Car IQ Pay’s proprietary technology simplifies the payment process by allowing any vehicle to connect directly to a merchant and pay for services without using a credit card.
“As a part of the Visa Fintech Fast Track, Car IQ Pay is using their network to make it easy for merchants to accept payments from cars, and to allow vehicles to pay for things,” said Sterling Pratz, CEO of Car IQ. “We see a market opportunity of 200 million vehicles to bring to the Visa network, which is accepted by 80 million merchant locations globally. Our first focus is on fleets, and we are using Visa’s network to support global merchant acceptance and drive payment volume.”