Luxoft Deploys Peer-to-Peer Payment Technology Integrating IoT in Rinspeed Autonomous Driving Car

By CIOReview | Wednesday, March 30, 2016
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NEW YORK, NY: Software developer and unique IT solutions provider, Luxoft has recently released the industry’s first solution that integrates financial services software, a peer-to-peer payment technology, into the connected car. The Rinspeed “Σtos” concept car will show the functionality of the Paymit platform from SIX Payment Services at the Geneva Motor Show in Geneva, Switzerland.

Vasiliy Suvorov, Technology Strategy, VP, Luxoft says, “From making a smart payment at a parking garage, a toll booth or a carwash through to performing a money transfer, the driver is now able to execute all of these on the go, in a safe and intuitive manner through the built-in Human Machine Interface. Paymit platform capability, expressed by the means of a context-aware user interface is functional within both, the autonomous and manual driving modes.”

The solution is built to meet the need of financial services segment but ultimately this unique payment technology is applied in the autonomous vehicle to enable a monetization platform for IOT use cases. The seamlessly integrated peer-to-peer payment solution into the vehicle infotainment system allows drivers to make purchases and perform routine financial transaction both inside and outside the vehicle. The forefront of such innovative change with this collaboration demonstrates the convergence of adjacent vertical technologies.

“Rinspeed continues to be at the forefront of embracing innovative technologies within the autonomous vehicle,” says Frank M. Rinderknecht, Founder and CEO, Rinspeed, Inc. “The introduction of this new feature within ‘Σtos’ demonstrates the importance of cross-industry collaboration. The work we have engaged in alongside of Luxoft and SIX Payments Services have created many real world use cases around the driver’s ability to simply make a ‘payment’ while never actually leaving or in some cases, even stopping the vehicle.”