Digital Transactions Authoritative, insightful and timely information for payments professionals
P97 Networks, a provider of cloud-based mobile-commerce technology to convenience stores, gas stations, and the automotive industry, is teaming with Visa Inc. to deploy Visa’s token technology as a way to reduce friction with in-car payments, as well as create new customer experiences for mobile-wallet users.
P97 will use Visa’s network token services to link millions of digital wallets and connected cars to enable payments at electric-vehicle charging stations and accelerate mobile payment acceptance at more than 60,000 convenience stores, and retail fuel-marketing sites. The two companies also plan to develop payment solutions for businesses with electric-vehicle fleets.
“This collaboration underscores the powerful security that tokens provide to auto OEMs, energy brands, and issuers alike,” Ansar Ansari, senior vice president and global head of product platforms for Visa, says in a prepared statement. “Drivers and consumers that embrace digital payments and mobile apps tend to be more loyal and transact more frequently at the same brands.”
In addition to enabling digital payments across charging stations, P97 Networks’ Connected Commerce and Mobile Payments platform supports payment aggregation, and payments for fueling, parking, tolls, dealership services and car washes. P97 is based in Houston.
The platform also provides rich data about retail sites, which can be displayed on the dashboard of a vehicle so consumers can find retail sites based on geo-location services or view real-time gas prices, hours of operation, amenities offered, and customer reviews.
“We’ve seen our connected-commerce and mobile solutions become more embedded within our customers’ digital marketing and loyalty programs to drive growth and operational efficiency,” P97 Networks chief executive Donald Frieden, says is a prepared statement. “In order to accelerate the adoption of mobile commerce, it’s critical for us to continue enhancing the payment experience for consumers and drivers, and our joint effort with Visa is a significant step towards that vision.”
