PayByCar, launched by Verdeva, Inc. today, announced a breakthrough in-vehicle payment solution that lets drivers use toll transponders to simplify and speed non-toll transactions, such as pumping gas and paying at quick-serve restaurants and car wash drive-thrus and other automotive services.
The connected car company just inked an unprecedented pilot program agreement with the E-ZPass Group under their “Driven by E-ZPass©” brand which allows E-ZPass© customers to open a separate non-toll account with Verdeva’s PayByCar program and link their toll transponder(s) to that account, eliminating payment hassles so drivers can get back on the road in no time at all.
In addition to the launch of PayByCar, Verdeva also announced the appointment of Anand Raman, a seasoned entrepreneur and mobile technology expert, as president and COO.
"American drivers spend hundreds of hours behind the wheel every year. When they stop for coffee or to fill up their tank, the last thing they want is to be waiting in long car lines and fumbling for cash or credit cards. But, too often, that’s exactly what happens,” said Kevin Condon, CEO and founder of Verdeva and PayByCar. “PayByCar changes all that, making in-vehicle payment fast and easy. Anybody who has an E-ZPass© transponder in their car can enroll in PayByCar and be able to drive up and pay without ever reaching for their wallet. With millions of vehicles already equipped with transponders, PayByCar provides the quickest and most expansive way to make in-vehicle payment a reality. And with our agreement with E-ZPass©—a brand consumers already use and trust—we think drivers will be excited about adding the convenience of PayByCar.”
The E-ZPass Group is comprised of toll entities stretching across 17 states that operate the E-ZPass© electronic toll collection program. It is the largest interoperable toll collection program in the world.
PayByCar, which is currently in pilot, is frictionless. Drivers opt-in to the program and choose the payment method (credit or debit card, e-wallet, etc.) that they’ll be using for non-toll charges. PayByCar customers grant permission to use their E-ZPass© transponder to look up a separate PayByCar account. PayByCar charges are not processed through the E-ZPass toll accounts, but rather through a separate account directly with Verdeva. When a member drives up to a participating retailer, PayByCar recognizes the toll transponder on the car and the presence of the driver’s cell phone. It authorizes and automates payment using the member’s chosen method for Verdeva non-tolling transactions, which is on file with PayByCar, and offers personalized rewards.
“Everyone loves the simplicity of paying for tolls with transponders. PayByCar uniquely takes this to the next level, using the same transponders to make everyday transactions easy and seamless and bring simplicity to consumers’ lifestyle. With over 35 million E-ZPass© equipped vehicles in the U.S., the opportunity for PayByCar is tremendous,” said Raman. “I’m excited to join the PayByCar team and make in-vehicle payments easy for millions of drivers.”
Raman is a seasoned tech start-up executive with a track record of building and growing mobile software technology companies from the ground up. He brings a multi-faceted perspective to overseeing all aspects of PayByCar and is responsible for both strategic and tactical operations.