payment

The way people get around is going to change, with more people deciding that they don’t want the hassle of owning a car – they just want to hire one from time to time.

This seems to be the prevailing view among established automakers such as Daimler, parent company of Mercedes-Benz, as well as new entrants to the motoring market, such as the smartphone apps which enable users to hail cabs and so on.

In the latest development towards the new motoring world, Daimler has paid an undisclosed sum to buy PayCash, which will become the electronic payment system for the services of the Daimler under the new brand name “Mercedes Pay”, which enables payment through smartphones. [Read more…] about Daimler buys PayCash in anticipation of new motoring culture

By Johannes Lintzen, vice president of sales and business development at Utimaco

Most big automotive brands have been around since the time “before connected cars”. Since automobiles are typically built incrementally through a complex supply chain, combining existing and new technologies developing at different speeds, it is difficult to ensure that a vehicle is entirely connected.

This includes being accessible for over the air software updates as well and being protected against security breaches, while protecting a driver’s privacy – all at the same time.

With the increase in connected cars on the roads, and an industry disruptor in the name of Tesla, many in the automotive industry are looking for ways to secure their products. There are some key similarities between the auto industry’s current situation, and what payment companies had to consider with the advent and wider adoption of payment cards. [Read more…] about What the auto industry can learn from payments sector about cybersecurity