Boston, MA. (March 17, 2021) – The year 2020 will forever be remembered as the year of the greatest reset in POS technology for brick & mortar retailers, leading the majority of businesses to seek safe and innovative consumer payment alternatives. PayByCar, Inc., the Boston-based fintech startup behind the 2018 market launch of its exclusive in-vehicle payment platform, could not have emerged at a more critical point by offering retailers and customers the added security of paying for gas and other goods safely from their mobile device, without ever having to use cash, a credit card or mobile app.
PayByCar™’s innovative vehicle payment solutions, which offers its technology to an estimated addressable market of 100 million, has only grown its awareness since 2020 and into 2021 through retail, transit, and fintech partnerships across the nation where their services are already available to an estimated 65m toll tags users like E-ZPass™and millions of other RFID tags.
"American drivers spend countless hours behind the wheel every year. Nowadays, in the era of social distancing, commuters want to be in as little physical contact with others as possible when buying coffee or filling up their tank. PayByCar solves that problem by offering an easy-to-use app-less, text-based platform where the customer’s only requirement is to respond with their pump number when prompted by a PayByCar text notification,” said Anand Raman, President of PayByCar.
An unintended outcome of the pandemic is that consumer demand grew for anything touchless - from food delivery to technology. PayByCar was among those who offered a solution for touchless transactions and as a result has seen program acceptance as illustrated by a Massachusetts pre-pandemic test at one station that has now quickly expanded to 30 stations since the start of the pandemic and was named a top retail disrupter by CSP Daily News.
The way it works is simple: PayByCar drivers entering gas stations are recognized by the car’s transponder and sent a text message to their smartphone. Once parked, a simple reply with the pump number turns that pump on, registers the transaction, charges the card, and sends an e-receipt. For new users looking to enroll, they only need to text ENROLL to 617-249-7524 and follow the web link provided. For drivers who don’t have a toll transponder, PayByCar provides a free “PBC Smart Sticker” for the windshield that works instead.
“These unprecedented times call for a demand to make contactless payments more readily available to consumers,” said Kevin Condon, CEO, and founder of PayByCar. “We’re excited to offer drivers not only the convenience of simple and quick transactions but also the added safety and peace of mind during the age of COVID by reducing touch by 84%.”
Moving ahead in 2021, PayByCar has also announced the expansion of their services in North Carolina where they are piloting programs with Circle K. The technology will soon be available for other kinds of transactions such as paying at convenience stores, car washes, drive-thrus, restaurants, and a growing list of other US gas station chains. In addition to eliminating multiple points of contact like touching public surfaces, swiping cards, entering PINS, or waiting for paper receipts, the process also cuts transaction and refueling time by 73% for patrons during the winter months.
Since PayByCar’s launch, the company has made waves in the business technology world, following an unprecedented non-toll services pilot agreement with the E-ZPass Group in 2018 that allows the PayByCar product to leverage the transponder devices E-ZPass drivers already use to pay for highway tolls across 19 states -- a service the agency group calls “Driven by E-ZPass™”.
About PayByCar
PayByCar is a leader in making possible in-vehicle contactless payments for connected cars – both new models with state-of-the-art tech, as well as millions of older vehicles. We start with a simple goal – make, in-vehicle payments easy, safe and fast today. If you have a toll transponder and a smartphone, you’ve got what it takes to join PayByCar now. To Learn More Please Visit: https://www.mypaybycar.com/
