ZF creates Car eWallet start-up

ZF has founded Car eWallet, a Berlin-based start-up, in which the company will outsource the current activities of the transaction service Car eWallet. The objective is to further develop and market the service following an initial six-month collaboration with project partners IBM and UBS. The service, for example, enables payments for refuelling or re-charging electric cars. The electronic transaction wallet can also be used to pay for tolls, parking fees or car sharing. The first pilot projects of Car eWallet are expected to be launched as early as the second half of 2018. In an initial financing phase, ZF will equip the start-up with seed capital; for ongoing funding, the start-up will advertise for investors.

“We are now working intensively on developing Car eWallet for market rollout. We have taken all necessary organizational steps to make this happen,” said Alexander Graf at ZF Friedrichshafen AG.

Highly automated and fully autonomous driving in particular, as well as electromobility, will require vehicles to be connected to payment services. ZF first presented the Car eWallet service in January 2017. This provided an open automotive transaction platform for mobility-related services that will simplify technical services, digital trade and cashless payments between manufacturers, suppliers, service providers and customers.

“We will maintain the technological connection to ZF and its product portfolio and at the same time, open up Car eWallet to many other users from the entire mobility industry as well as financial service providers,” adds Alexander Graf.

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