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Daimler Acquires Payment Firm To Create Mercedes Pay

Daimler AG, the parent company of Mercedes, is acquiring PayCash Europe, a payment solution that will enable Daimler to build Mercedes Pay [1]. Mercedes Pay will be their own electronic payment service that will be integrated into a variety of Daimler Mobility Services.

In practicality, Mercedes Pay will enable customers to enter their payment information just one single time using their smartphones and then have access to a variety of services such as car-sharing service Car2Go or the taxi service MyTaxi. [2].

In the future, it’s likely that this functionality could be integrated into infotainment systems in Daimler cars. This would enable customers to make payments on parking fees, gas costs or food served from a drive-thru within the convenience of their vehicle.

 

Personal comments

It is clear that auto executives believe that revenues from pay-per-use services will outperform traditional revenues with more and more vehicles becoming connected. By investing in the payment infrastructure Daimler is serious about building a value-added service network to be a major player on the market.

 

Written by Mahdere DW Amanuel, RISE Viktoria.

 

Sources

1. 2017-01-19. Mercedes' parent company acquires e-money firm

2. 2017- 01- 20. Let The Car Pay: Mercedes Pay Hits Daimler Mobility Portfolio