Payment Processing will be moving to the dashboard of your car. People spend on average 30 minutes driving or riding to and from work. Commerce is already conducted from people’s phones within their car while they are commuting to work. There is a huge market waiting to emerge, allowing payment processing from the car dashboard. Not only will we be using GPS from the screen in our car, but now we will be able to shop and pay right from the same screen.
No longer will you have to get out of your car to pay for parking or gas. In fact, you won’t even have to reach for your phone or your wallet. Soon consumers will be able to pay for gas or parking from their car dashboard, simply by being near the parking meter or gas pump. Paying for a burger or coffee at a drive through window will save time and add convenience with a simple touch on a screen on a car dashboard.
It is estimated that by 2020, 250 million vehicles will have this connectivity. Now merchants rely on bill boards to capture the attention of road travelers. The opportunity will soon be available for merchants to advertise inside a car and also close the sale by capturing payments from people shopping from the comfort of their vehicles in which they spend so much time already. When driverless cars are commonplace, the riders will have more time to browse online and that means another added opportunity for merchants to market their products and capture payments directly with consumers via their car dashboard.
$210 billion annually in commuter commerce is up for grabs. 89.6 million people use the internet while they are commuting in their car already. 75 percent of all commuters surveyed said they would shop more if they had the convenience to shop and pay integrated into their dashboard. Watch for the soon to come new frontier in marketing and payment processing.