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Hyundai's New In-Car Payment System Partners with Parkopedia

Source: Hyundai Motor America

FOUNTAIN VALLEY, California, USA - Hyundai Motor America announced the release of Hyundai Pay, an in-vehicle payment platform for the U.S. market.

Why it matters:

The launch of Hyundai Pay marks a pivotal moment in the connected car space, potentially reshaping how drivers interact with payment systems directly from their vehicles.

The Key Points

  • Hyundai Pay: An in-car payment system that, once set up, allows users to transact via their car's touchscreen using securely stored credit card information.
  • Partnership with Parkopedia: Hyundai has partnered with Parkopedia to streamline the parking payment process, allowing U.S. drivers to locate, reserve, and pay for parking at more than 6,000 locations without getting out of their vehicles.
  • Availability: The system will debut in the 2024 Hyundai Kona this fall, with nine additional Hyundai models expected to integrate Hyundai Pay in future updates.
  • Security features: Hyundai is ensuring the security of payments through tokenization techniques, providing robust data protection.

The Big Picture

The automotive and technology industries are entering an era of integrated solutions.

Hyundai's strategic move aims to simplify everyday tasks for drivers, starting with alleviating parking woes, a sentiment echoed by Parkopedia's 2023 Global Driver Survey.

The survey highlights that 94% of US drivers struggle to find parking, with 18% experiencing problems consistently.

There's also an apparent demand for in-car solutions: 58% of drivers want in-car parking search capabilities, and 68% want in-car parking payment capabilities.

Hyundai's Bluelink-connected car system further enhances the Hyundai Pay experience.

The system integrates with Hyundai's Bluelink app, allowing users to view, book, and recall previous parking sessions.

What they say;

Olabisi Boyle, VP at Hyundai Motor North America, underscores the importance of technology-driven solutions like Hyundai Pay in simplifying everyday tasks for drivers.

Hans Puvogel, COO of Parkopedia, recognizes the widespread parking challenges faced by U.S. drivers and is optimistic about the future development of Hyundai Pay.