The $580 billion in-car payment opportunity

We’ve released an innovative market study in collaboration with STL Partners, exploring the growth potential of in-car payments. Our report, Fuelling the Future: the $580 billion in-car payment opportunity, forecasts that the global market for in-car payments will reach $580bn+ by 2030, growing at an annual rate of 130% from 2023 to 2030. It also predicts that the number of connected vehicles will increase from 430 million to 895 million within the same period. 

In-car payments are one of the key innovations we’re driving forward, allowing drivers to make secure transactions automatically through their vehicle’s software. This technology is set to redefine the driving experience, offering services like pay-as-you-drive insurance, remote vehicle monitoring, real-time driver information, and automatic emergency calls. One of the biggest opportunities is the ability to make payments directly from the car, without needing physical cards or mobile apps — for fuel, EV charging, parking, and more. 

The report also anticipates that the potential market will be largely driven by payments for automotive services, such as parking and EV charging (70%). E-commerce platforms for goods and services, like food, beverages, and entertainment, will account for 25%, while additional functionalities will represent 5%. 

Further key highlights from the report 

• The in-car payments market is expected to reach a tipping point in the next five years, with exponential growth projected to reach $580 billion by 2030. 

• The fast adoption of technologies such as SIM cards for vehicle identification, biometric authentication, artificial intelligence (AI), blockchain, payment wallets, Near Field Communication, advanced connectivity, and cloud tokenization will enable a more secure and seamless in-vehicle payment experience 

• In-car payments will provide a simpler, faster, and more secure user experience compared to traditional methods 

“Advanced connectivity coverage is a catalyst for new ways to interact with our vehicles. Adding native payment functionality to your driving experience will allow for more secure, real-time, automatic usage of day-to-day services like parking, ev charging, car-washing, fueling, and others.“, said Jorge Bento, Chief Executive Officer of Pairpoint. “We are dedicated to leveraging our technology to build a robust partner ecosystem, driving both adoption and scalability.”, he added. 

With our advanced solutions for the Economy of Things, and close partnerships with key industry stakeholders—from automotive to logistics—Pairpoint is at the centre of this transformation. We are building an ecosystem that enables seamless and secure transactions between vehicles, devices, and equipment. Our technology streamlines car payments, providing a secure and smooth pay-by-car solution. This enhances the daily experiences of our customers, enabling efficient management of tolls, EV charging, and additional services, while opening up new revenue opportunities. To ensure the success of in-car payments, our study highlights the importance of a broad and collaborative ecosystem. The automotive industry, alongside telecom operators, must focus on partner integration, process automation, and building secure systems to minimise transactional risks. By working together, we can create an efficient, scalable, and secure environment for in-car payments to thrive. 

For more information, download the report Fuelling the Future: the $580 billion in-car payment opportunity.