As anyone who has tried to buy a new car recently will have discovered, the availability of new vehicles has been seriously hit by a shortage of semiconductors. However, such issues have done little to dampen expectations for growth in the in-vehicle payments market.
According to a global study of connected vehicle payments by Ptolemus Consulting Group, 600 million vehicles will generate in-car transactions worth more than $500 billion by 2030. And in 2019, nearly 30% of respondents to the Pymnts and P97 Networks’ Digital Drive report said they would make purchases online during an autonomous vehicle commute.
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