Forgot your wallet? Not a problem in the autonomous car

Widely spread internet connection on smartphones brought a completely new dimension to their usage. Smartphones are far from being just a tool for making telephone calls, texts and similar. They become an indispensable tool at home and work. Today you can do almost everything with a five or six-inch smartphone, including paying receipts, ordering goods online, and conclude insurance premium.

That is possible because of security protocol behind those transactions and we are just a few steps away from using the same payment methods in autonomous cars.

The first obstacle has already been removed – it’s called connected drive that allows us to connect the car with the internet, using smartphone or e-Sim cards.

The next steps are the development or adaptation of applications, bulletproof payment security protocol and of course autonomous systems, which will allow us to shop while driving or being driven.

The real question is  – how will we pay let’s for a burger in a drive-in, electricity on charging stations, movie ticket and other goods? There are several options, including face recognition, gesture controls, voice controls and of course the good old PIN number. However, in the era of autonomous vehicles, we are certain; the financial industry will come up with some cool ideas.

Just imagine, in 2025 there will be, by Juniper Research, around 20 million autonomous vehicles hitting the roads. That means 20, 40, 60 million or even more passengers with plenty of time in the cabin. They use it for rest, meetings or even shopping.

Join us on City as a Lab Summit, on 4th and 5th of April where Andy Grignon and Brett Murray from JP Morgan Chase & CO will explain Financial industry is preparing for the era of autonomous vehicles.