In a recent episode of Drivetime, Keyloop’s global auto tech podcast, we spoke with Sarah Sloman, Chief Strategy Officer at Paythru.
The conversation centred on the pivotal role of payment systems in shaping the future of automotive retail and mobility. Integrated, seamless payment solutions are no longer just a convenience; they are a strategic requirement for success.
Read on for a breakdown of the key ideas we discussed. You’ll see how taking a strategic approach to payments can unlock new revenue, improve customer experience, and set the stage for the future of mobility.
The shift from transaction to experience
A central theme of the conversation was the evolution of payments from a simple, final step in a transaction to an integral part of the overall customer experience.
Today’s consumers expect the same level of convenience in every interaction as they get in services like Uber and Netflix – and that includes buying and owning a vehicle.
This expectation challenges the industry’s traditional payment processes. Disjointed systems for vehicle purchase, servicing, and other value-added services create friction points that detract from the customer journey.
Paythru’s strategy focuses on unifying these touchpoints into a single, cohesive ecosystem. By embedding payment functionalities directly into the ownership experience, retailers can create a frictionless journey that fosters loyalty and long-term value.
Powering mobility as a service (MaaS)
The discussion moved beyond traditional car ownership, exploring the rapidly developing field of Mobility as a Service (MaaS).
Sarah highlighted that for MaaS to become widely adopted, the payment infrastructure must be robust, adaptable, and seamless for the user. Whether a customer is using a ride-sharing service, hiring a scooter, or accessing public transport, the ability to pay without friction is essential.
Paythru is positioning itself at the heart of this transformation. The goal is to create a universal payment platform that can support a diverse range of mobility options. This includes orchestrating complex transactions that may involve multiple transport providers, dynamic pricing, and subscription models.
For automotive retailers and OEMs, this presents a significant opportunity. By integrating their own services into this broader mobility network, they can move beyond simply selling cars and become comprehensive mobility providers, capturing a larger share of the consumer’s transport spend.
Harnessing data to drive value
The strategic use of data underpins the future of payments. An integrated payment system provides a rich source of customer insights.
By analysing transaction data, businesses can gain a deep understanding of customer behaviour and identify preferences and patterns more effectively.
This data-driven approach makes it possible to create highly personalised offers and services. For example, a retailer can identify when a customer is due for a service and offer them a tailored maintenance package. The retailer can then facilitate a seamless booking and payment process.
These steps not only enhance the customer experience but also open up new revenue opportunities. By understanding how customers interact with different mobility services, companies can refine their offerings. They can also develop innovative solutions that meet changing market demands.
This approach aligns with Keyloop’s vision of creating a complete view of both the customer and the vehicle. With this insight, retailers can pair the right offerings with the right person at the right time.
The importance of an open and collaborative ecosystem
No company can build the future of mobility alone. The industry needs collaboration and open platforms. Sarah stressed that the future lies in creating an ecosystem where service providers, technology companies, and financial institutions work together seamlessly.
This collaborative model is essential. It allows providers to deliver the integrated experiences that customers expect. Likewise, with an open payment platform it becomes easier to integrate third-party services. As a result, the ecosystem benefits from a network effect that adds value for everyone involved.
Retailers will be able to offer a wider range of services—from insurance and finance to charging and parking—all through a single, unified interface.
This approach mirrors the principles behind Keyloop’s Fusion platform, which connects disparate systems to create a unified and efficient automotive retail experience.
Navigating the path forward
Sarah Sloman offered a compelling vision for the future of payments in the automotive and mobility sectors. The journey from fragmented transactions to integrated experiences requires a strategic focus on technology, data, and collaboration.
For automotive businesses, the message is clear: embracing a modern, flexible payment infrastructure is essential for remaining competitive.
By placing seamless payments at the heart of their strategy, businesses can enrich the customer journey, unlock new revenue streams, and position themselves as leaders in the new era of mobility.
The insights from this episode serve as a valuable guide for any organisation looking to navigate this complex yet opportunity-rich landscape. To catch up on the latest episodes of the podcast, visit drivetime.keyloop.com.
