DALLAS — Fuel distributor Sunoco will accept Car IQ’s payment solution that will allow its fleet customers a new way to purchase fuel without the need for a credit card. Car IQ Pay will be live at nearly 5,000 Sunoco-branded fuel locations nationwide by the end of summer 2022.
Car IQ Pay allows the driver to enter the pump number, add fuel and drive away. Car IQ Pay’s proprietary technology enables any vehicle to communicate directly with the Sunoco pump via Carat by Fiserv without the driver swiping a card, entering a personal identification number (PIN) or adding the odometer reading.
“We are excited to add Sunoco as a fuel partner and allow fleet vehicles to connect directly to their pumps and pay for fuel. Sunoco gives our fleet customers more choice when it comes to purchasing fuel,” said Matt Nicholson, senior vice president of merchant commercialization for Car IQ. “Vehicle based payments solutions are reshaping how companies manage their business operations by tying vehicle data directly to the transaction and allowing the car to connect directly to the pump, giving fleet managers more control and visibility over their budget.”
“We want to simplify how fleets pay and eliminate the need for drivers to swipe cards, enter PINs and odometer readings. By offering Car IQ’s payment solution we can help fleet customers eliminate fraud with the use of telematics data that validates each fuel transaction,” said Rich Hayes, senior director of electronic payments for Sunoco.
“In an increasingly digital world, the ability to create unified experiences is the new loyalty currency for consumers,” said Scott Mackay, vice president of Carat and digital commerce for Fiserv. “By using the vehicle to simplify paying-at-the-pump, and digitally streamlining authentication and communication, we are helping Car IQ create a better experience for Sunoco customers.”
Car IQ validates the vehicle when it arrives at a fueling location, then approves the source of funds and turns on the pump without the use of a credit card. Once fueling is complete, Car IQ Pay enables the vehicle to pay for the fuel and verify the fuel was received. As the driver leaves the station, payment receipt is added to the vehicle’s real-time ledger for easy fleet expenditure management.
Car IQ, based in San Francisco, has created a payment network for cars that eliminates the need for credit cards and enables all vehicles to connect directly to merchants and transact directly, securely and autonomously. Car IQ’s payment solution is aimed at driving ease of use. Car IQ replaces incumbent fleet card products and eliminates tedious backoffice vehicle reconciliation for fleets.
- Sunoco is No. 85 on CSP's 2022 Top 202 ranking of U.S. convenience-store chains by company-owned store count.
Dallas-based Sunoco distributes fuel to more than 5,000 gas stations in more than 30 states.
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