Visa, SiriusXM Team up In-Vehicle Payment System
January 07 2019 - 01:49PM
Dow Jones News
By Chris Wack
Visa (V) and SiriusXM Connected Vehicles Services Inc., a
subsidiary of Sirius XM Holdings Inc. (SIRI), announced Monday that
they are working together on a new in-vehicle payment system.
In a release, the companies said they are working to offer the
SiriusXM e-wallet to manufacturers who deploy SiriusXM's connected
vehicle services, a connected vehicle platform in North America
serving multiple major automotive brands.
The companies said the SiriusXM e-wallet is being designed to
integrate into the dashboard and will allow drivers and their
passengers to complete and make purchases such as shopping and
paying for coffee, finding and pre-paying for gas, locating and
paying for parking, purchasing movie tickets, and paying tolls.
Users will activate and authenticate payment with their Visa
account using biometric authentication, like voice and touchscreen
commands, to eliminate driver distractions during the
transaction.
Security precautions include the Visa Token Service, which
allows an extra layer of security for payments.
Shares of Visa were up 2.5% to $137.05 in midday trading, while
shares of SiriusXM rose 1.6% to $6.27.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 07, 2019 13:34 ET (18:34 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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