Driver-centric parking transaction services - Will the car become the new wallet?

3 minute read
Driver-centric parking transaction services - Will the car become the new wallet?

60% of drivers would prefer their car to pay for parking automatically and 86% of drivers already using this technology have a positive experience, according to research carried out by Parkopedia and Zhongyan earlier this year, where 1600 drivers were surveyed across China. 

Drivers in China have embraced cashless parking payments with less than 1% still paying for parking with cash. According to the recent study, the most popular payment method is currently via smartphone QR codes, with integrated in-car digital payment systems already a close second. 

In-car commerce is a rapidly growing industry, and offering convenient and efficient vehicle-centric transactions as part of an integrated payment platform is the obvious next step for automakers delivering connected solutions to their drivers. Integrated payments are relatively new technology and currently only available in premium brand vehicles in China. However, over 86% of owners of premium vehicles expressed a preference for this technology above independent smartphone solutions, showing the value of integrated payments once experienced by the driver. With the technology starting to come pre-installed on more vehicles, we believe this trend will continue, and integrated systems will soon take over as the most popular parking payment option - featuring as a connected car system that allows automakers to fully utilise wider vehicle sensors and driver prompts to provide a seamless user experience that assists the driver on every journey. 

Currently in China, most major parking operators provide express payment options via smartphone QR codes linked to WeChat or Alipay accounts, as well as payment solutions that can support in-vehicle access and pay. Parkopedia provides solutions for both, across thousands of parking facilities in major cities nationwide, allowing automakers and aggregators to maximize their coverage across the country. 

Parkopedia collects accurate parking payment QR codes and embeds these into the vehicle’s infotainment system. Drivers can use their smartphone to scan the location QR code displayed on the dashboard screen to complete an express payment, without having to leave the vehicle. Drivers will also avoid any toll gate queues, time wasted loading various apps or searching for physical QR codes before exiting the parking facility. The in-vehicle QR code payment method provides a solution for facilities without existing connected vehicle access and payment options, helping vehicle manufacturers increase their coverage of parking payment services, as well as providing a convenient experience for drivers.

Parkopedia integrates parking operators into its existing, single API interface, providing ongoing support to automakers in navigating the highly fragmented parking industry, and helping parking operators to provide comprehensive payment options that meet existing and future driver demands. 

Download the full report here

Sign up to keep updated on the latest news from Parkopedia