Payments and the Future of Mobility

Whether ordering take-out, renting a bike, requesting a car or shopping online, consumers have unlimited options when it comes to seamless experiences that are quick, easy and secure. This level of ease and convenience also applies to payments, where a new ecosystem is quickly evolving, presenting streamlined simplicity to consumers while managing intricate infrastructures, new partnerships, and exchanges on the back-end.

The goal? According to this article by the Deloitte research team, “Payments in the future mobility ecosystem should be transparent, seamless, integrated, and highly convenient.”

Mobile payments are growing at about 80% a year, here are identifiable opportunities within the new ecosystem:

  • Niche mobility-specific payment solutions (e.g., like fuel cards and fleet cards), represent an opportunity in an industry like transportation that is a large planned portion of American household expenditures.
  • The mobility ecosystem has the opportunity to “unlock new experiences” for consumers, merchants and managers as key roles shift through an integrated supply-and-demand journey.
  • Payment providers are key players in creating an infrastructure and new data plans, determining the dynamics of network effects and the flow of data. This challenge presents three possible opportunity routes:
    • Enabling seamless intermodal mobility — One transaction that triggers a sequence of multiple transactions across different services, including ancillary Mobility-as-a-Service (MaaS) offerings.
    • Payment facilitation by connected vehicles — Payment providers build strategic alliances that use the car/vehicle as a platform for tying in other businesses (e.g., gas stations, toll booth companies, etc.), and playing the intermediary while anticipating consumer needs with collected data.
    • Peer-to-peer shared mobility — Create a marketplace for a universal rental system where a payment provider can capture the market with a simple plug-and-play approach of creating a hands-off- retail customer experience, providing effective payment processing, nurturing a highly customizable customer experience, and then piloting the new offering to a P2P network.

I read the article mentioned above ( and thought it was interesting. While I am not offering an endorsement of a strategy, tactics, thoughts, service nor a company or author, the information was intellectually stimulating and thoughtful and worth a review.