Luxoft Integrates Peer-to-Peer Payment Tech in Autonomous Car

Luxoft, a globally-renowned provider of software development services and advanced IT solutions, has made a buzz in the automotive sector with the recent debut of its industry-first solution that integrates the financial services software, a peer-to-peer payment technology, into the connected car. The company will give a demo of the Paymit platform in the Rinspeed “Σtos” concept car at this year’s Geneva Motor Show in Switzerland, which is being held today until March 13.

The company has employed this advanced payment technology, originally designed for the financial services segment, and brought it into the autonomous vehicle paving the way for IoT uses cases. The peer-to-peer payment technology, which has been integrated into the vehicle’s infotainment system enables drivers to make purchases and carry out routine financial transactions, in real time, both inside and outside the vehicle. This partnership is at the forefront of such change and is showcasing the union of adjacent vertical technologies. This demonstrates the increasing role that digitalization plays both in the automotive and financial services industries.

In a statement, Vasiliy Suvorov, VP of Technology Strategy at Luxoft, said that they are extremely pleased about the successful outcome of their integration efforts and the several opportunities this new capability creates for drivers, OEMS and financial institutions. He explained that from making a smart payment at a parking garage, a carwash, or a toll booth through to performing a money transfer, the driver can now perform all of these on the go, in a safe and intuitive manner through the built-in Human Machine Interface (HMI). “Paymit platform capability, expressed by the means of a context-aware user interface is functional within both, the autonomous and manual driving modes.”

Meanwhile, according to Frank M. Rinderknecht, Founder and CEO of Rinspeed, Inc., their company continues to be at the forefront of embracing state-of-the-art technologies within the autonomous vehicle. He pointed out that the launch of this new feature within ‘Σtos’ shows the significance of cross-industry partnership.

Rinderknecht added that the work they have engaged in alongside of Luxoft and SIX Payments Services have created a number of real world use cases around the driver’s ability to make a ‘payment’ while not even leaving or stopping the vehicle. “We look forward to continuing our work together, also embracing other technologies that are not specifically designed for this industry, in order to continue to enhance the driver experience.”