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Secure Transactions News

Daimler buys payment company to develop Mercedes Pay

Thursday 2 February 2017

Customers of Daimler’s mobility services will soon be able to use a dedicated Mercedes Pay mobile payments platform, allowing them to “easily and securely pay for mobility offerings and services using their smartphones”, the German automotive giant has announced.

 

Mercedes Pay will become part of Daimler Mobility Services, which includes the Car2Go car-sharing service and the mytaxi taxi-booking app, and will allow customers to provide their payment details once to be able to use the range of services.

 

The service is to be launched following the acquisition of PayCash Europe, a mobile payments solutions provider, by Daimler Financial Services, Daimler’s global financial services provider.

 

The company says it plans to use the new payment system to facilitate the existing mobility services and “other financing transactions in the future”.

 

PayCash Europe is a financial institution that is regulated by the Luxembourg banking authority with a license for electronic cash. The ePayment company, which was founded in 2012, also offers solutions for cryptocurrencies, such as Bitcoin and eWallet systems, in addition to mobile payment services.