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Car IQ Inc. has inked a deal with petroleum company Sunoco LP to allow Sunoco’s fleet customers to purchase fuel without a credit card. Businesses, government agencies, and other organizations participating in Sunoco’s fleet program will be able to pay for gas at nearly 5,000 Sunoco stations by summer’s end using the Car IQ Pay app, which communicates directly with the pump.
When an eligible vehicle arrives at the pump, Car IQ validates the vehicle. Next, drivers enter the pump number into the Car IQ Pay app embedded in the vehicle, which approves the source of funds and turns on the pump. Once fueling is complete, Car IQ Pay enables the vehicle to pay for the fuel and verify the fuel was received. A receipt is then added to the vehicle’s real-time ledger for fleet expenditure management. Car IQ Pay communicates directly with the pump via Fiserv Inc.’s Carat application.
The technology behind Car IQ Pay is based on a machine-identity-verification process that allows vehicles and machines to connect to payment networks, physical infrastructures, and mobility platforms. In addition to paying for fuel, Car IQ’s technology also supports payments for services such as tolls and parking.
“We want to simplify how fleets pay and eliminate the need for drivers to swipe cards [and] enter PINs and odometer readings,” Rich Hayes, senior director, electronic payments, for Sunoco says in a prepared statement. “By offering Car IQ’s payment solution, we can help fleet customers eliminate fraud with the use of telematics data that validates each fuel transaction.” The new capability, he adds, will “provide fleet managers more control and visibility into their fleet spend.”
Providing fleet operators the ability to pay at the pump without swiping a credit or debit card or using a digital wallet can bolster customer loyalty by providing a better user experience, according to Fiserv.
“In an increasingly digital world, the ability to create unified experiences is the new loyalty currency for consumers,” Scott Mackay, vice president for Carat and digital commerce at Fiserv, says in a prepared statement. “By using the vehicle to simplify paying at the pump, and digitally streamlining authentication and communication, we are helping Car IQ create a better experience for Sunoco customers.”
