Mobile Wallet The Electric Car Which Pays for Itself

The new blockchain-based payment system, Car eWallet, is designed to make "on-the-go charging" of electric cars easier and offers many more advantages as well.

When it comes to electric cars, the main issues for potential owners to overcome are short driving ranges and short charging cycles. Even when the driver does find a charging station, the many types of charging stations with different charge card and payment systems frequently prove to be additional challenges. In response to these challenges, ZF has joined forces with UBS to develop the blockchain-based Car eWallet featuring several comfortable payment and transaction functions. The user is the main party to benefit from this business cooperation: The mobile electronic wallet is designed to handle a wide range of mobility-related payments while also maintaining secure access to the vehicle by various users.

Video: How the Car eWallet works

On-the-go payments

The Car eWallet allows users to pay for fees while on the go.

After the comfortable online transfer of money from the PC or using a special app, the Car eWallet is authorized to independently make payments up to a certain limit.

On the morning drive to the office for example, the car will automatically pay a toll, thus saving the driver the trouble of waiting in line at a tollbooth.

"Charge-on-the-go" more attractive

The fees for charging electric car batteries are automatically paid without any manual payment transactions. The capability to do micropayment transactions on the go opens up possibilities such as inductive charging when the car is waiting at a red light or at a pedestrian crossing which makes ‘charge on the go’ more attractive for power suppliers.

Earning money rather than parked up

The digital eWallet can also accept payments just like a real wallet. There are also plans to authorize vehicle access for third parties. Instead of standing uselessly in a parking lot, the Car eWallet can make cars available for use to car-sharing portals and collect fees from the temporary users.

Packages delivered directly to the trunk

This technology can also support various other applications: For example, the Car eWallet user can enable the trunk of his or her parked car to open if a specific barcode ID is scanned, like on a package. It will allow packages to be delivered directly to a vehicle and placed in the trunk, while still protecting the vehicle from unauthorized access.

Extremely secure technology

The Car eWallet is based on blockchain technology. It allows business transactions to be performed virtually in realtime without requiring a central instance or a trusted third party.

Blockchain refers to a virtual, cryptographically secure chain of data blocks which store records of all transactions, so that a list of all user account balances can be generated. Because this list is stored on many computers and can be accessed by all users, the system is considered very secure.

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