Connected Vehicle

ZF spins off Car eWallet as a Start-up

Highly automated and fully autonomous driving in particular as well as electromobility will require vehicles to be connected to payment services.

This is the only way in which driverless passenger cars can independently use chargeable services such as driving on toll routes, paying for parking fees or charging the battery without the presence of a driver.

In this line, ZF has announced a spinoff Car eWallet GmbH in which the company will outsource the current activities of the transaction service Car eWallet.

The objective is to further develop and market the services like payments for refueling, re-charging, tolls, parking fees, car sharing etc. The first pilot projects of Car eWallet are expected to be launched as early as the second half of 2018.

The company first presented the Car eWallet service in January 2017. This provided an open automotive transaction platform for mobility-related services that will simplify technical services, digital trade and cashless payments between manufacturers, suppliers, service providers and customers.

In spring, the temporary cooperation between ZF and the previous collaboration partners, the technology company IBM and the global bank UBS, had ended after successfully concluding the project phase.

ZF will equip the start-up with seed capital; for ongoing funding, the start-up will advertise for investors soon, according to the Press Release by the company.

Press Release

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