Gartner predicts $ 1 billion in vehicle payments by 2023


Last updated on December 8th, 2022 at 02:40 pm

This year they have not exceeded even $ 100 million

Gartner predicts that payments made directly from a vehicle using its WAN connection will grow rapidly in the coming years. Payments made in this way are expected to reach $ 1 billion by 2023. For comparison: this year the amount has not exceeded even $ 100 million.


Gartner predicts $ 1 billion in vehicle payments by 2023

“Currently, car drivers can make payments in the vehicle using apps such as Alexa, Xevo Market, or the Banma platform to buy fuel, food, or pay for parking,” explains Mike Ramsey, vice president of research at Gartner. “The range of services available will continue to grow as partnerships between automakers, brands, and services, and software vendors expand.” 

In addition to making payments in the car through a cloud platform that connects to the car, car drivers will be able to use a third-party app on smartphones, using blockchain-based smart wallets, or through a digital wallet embedded in the car. The latter option also gives the vehicle the ability to accept payments. According to Ramsey, “the vehicle will have a unique identifier and work almost like a credit card with the ability to make transactions.”

Gartner analysts also predict that the share of cars sold online will increase to 20% by 2025. Now it is less than 1%.

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