PayByCar secures USD 4 mln in seed funding

Wednesday 27 April 2022 12:06 CET | News

US-based in-vehicle payment provider PayByCar has completed a USD 4 million seed round of funding for further expansion across verticals and the US.

PayByCar allows customers with toll transponders like E-ZPass or PayByCar windshield stickers to perform contactless payments on gas purchases at participating locations from their mobile device, without ever having to touch the pump screen or use cash, credit cards, or mobile apps.

PayByCar users pay by confirming a text message when they drive into a participating location, without having to open their wallet or touch the fuel dispenser keypad. In addition to eliminating multiple points of touching public surfaces, the process also cuts transaction time in half.

Following PayByCar's 2021 state-wide launch of its in-vehicle payment platform, the company has grown awareness through retail, transit, and fintech partnerships across the nation, including partnerships with the E-ZPass Group, state DOTs, Global Partners, Star Systems International, and others.

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Keywords: mobile payments, funding, expansion, cashless
Categories: Payments & Commerce
Companies: PayByCar
Countries: United States
This article is part of category

Payments & Commerce


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