Drivers interested in their vehicle as a digital wallet

A new survey found that over half of drivers are intrigued by the prospect of using their vehicles as “digital wallets,” signalling a growing interest in connected vehicle services.

Verra Mobility Corporation, a smart mobility technology company, released the results of a survey exploring consumer attitudes toward connected vehicle features. Conducted among 2,000 American vehicle owners or lessees with cars from 2019 or newer, the survey found that more than half (54 per cent) of respondents would enable their vehicle to function as a digital wallet if the feature were available.

The survey highlights the increasing role of connected vehicles in the U.S. market. In 2020, 91 per cent of new vehicles sold in the country were classified as connected, a number that is expected to rise further.

The findings indicate that three in five (59 per cent) respondents are familiar with the term “connected vehicle,” although definitions vary. About a quarter of respondents associated the term with a vehicle’s ability to connect to a smartphone. Despite the varying perceptions, connected vehicle services are gaining traction among consumers.

Key survey results showed:

• 62 per cent of participants were aware of connected vehicle services available through their cars.
• 49 per cent were actively using at least one connected service.
• 40 per cent had paid for or renewed a subscription, such as a vehicle manufacturer’s app.
• 39 per cent signed up for connected services via their vehicle’s infotainment system.

“Utilizing a vehicle as a digital wallet to pay for services such as tolls, parking and maintenance is the next frontier for OEMs and consumers,” observed Cathi Chinn, vice president of innovation for Verra Mobility’s commercial services business. “When it comes to connected vehicles, we are just getting started.”

The survey also shed light on growing consumer preferences:

• 57 per cent of respondents said they would be willing to spend more on a vehicle that offers connected services.
• 70 per cent expressed a preference to enable digital services without needing to connect a smartphone.
• 50 per cent of participants were in favor of using their vehicle as a digital wallet for automatic payments.
• 53 per cent preferred paying for services directly through their car rather than using their phone.
• 34 per cent would like to pay for tolls through vehicle-connected services.