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Car IQ Inc.
Car IQ Inc. is a financial technology company based in San Francisco, founded in 2017. It has developed the world’s first vehicle-embedded payment platform, allowing cars and trucks to autonomously initiate and complete secure payments for services like fuel, tolls, parking, and EV charging without the need for physical credit cards. The company's flagship product, Car IQ Pay, streamlines transactions by eliminating the driver from the payment process, thereby reducing fraud and simplifying back-office reconciliation. The platform is powered by Visa and is accepted at over 25,000 fuel stations across the U.S. Car IQ primarily serves commercial fleets, including trucking, delivery, government, and ride-share companies. Its mission is to connect vehicles, merchants, and banks for seamless transactions, leveraging its Know Your Machine (KYM) technology for dynamic identity verification. With a total funding of $42 million, Car IQ is positioned as a leader in the emerging market of machine-initiated payments.
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