P97 Networks, a connected commerce, mobile payments, and mobility services provider, announced that it is teaming up with Visa to deploy its token technology.
This collaboration will “help reduce friction with in-car payments, enable EV charging payments across public networks, and further accelerate mobile payment innovation and acceptance.”
The first step in this cooperation is “the launch of P97 Network’s enhanced network token services to securely connect millions of digital wallets and connected cars to create highly secure and unique mobile payment experiences.”
P97 Networks and Visa will “work together in the coming months to introduce a series of connected commerce experiences, including payment solutions for electric vehicle charging across public networks and fleet charging solutions.”
Ansar Ansari, SVP and Global Head of Product Platforms at Visa, said:
“This collaboration underscores the powerful security that tokens provide to auto OEMs, energy brands, and issuers alike. Drivers and consumers that embrace digital payments and mobile apps tend to be more loyal and transact more frequently at the same brands. We’re excited to be teaming up with P97 Networks to accelerate mobile payment adoption.”
P97 Networks’ Connected Commerce and Mobile Payments platform, “which offers a host of services for automobile manufacturers across key cloud computing capabilities,” including:
- Payment aggregation
- Services aggregation to enable digital payments across EV charging
- Fueling
- Parking
- Tolling
- Car wash
- Dealership services
P97 Networks provides “these capabilities through APIs so auto OEMs, super apps, and voice-enabled payment platforms can transact at more than 60,000 convenience retail and fuels marketing sites.”
P97 Networks’ connected commerce platform further “provides auto OEMs with rich data sets and information about retail sites, which can be displayed on the dash, so consumers can find retail sites based on geo-location services or view real-time gas prices, hours of operation, amenities offered, and customer reviews.”
Donald Frieden, CEO of P97 Networks, said:
“We’ve seen our connected commerce and mobile solutions become more embedded within our customers’ digital marketing and loyalty programs to drive growth and operational efficiency. In order to accelerate the adoption of mobile commerce, it’s critical for us to continue enhancing the payment experience for consumers and drivers, and our joint effort with Visa is a significant step towards that vision.”
