There is a trend of incorporating payment functions into automobiles, and Sumitomo Corporation is partnering with Vodafone UK to start the service in Europe by 2023.
Car payment is expected to be used for charging stations for electric vehicles and drive-thru payments, and it is expected to be used for in-car services payments when self-driving cars become popular.
There are several authentication methods such as fingerprint and voice recognition, and there may be intensified competition over standardization.
With many compatible vehicle models, it seems easy for Sumitomo to promote the use of SIM cards, but it is necessary to partner with communication companies by country.
Annual growth of 15% or more is expected until 2028, and the market size is expected to expand to over 1.5 trillion yen.
It is said that collaboration with multiple service providers is necessary for consumers to use car payments.
