Volkswagen Goes into Mobile Payment Market

Shanghai, December 30th, 2016, Gasgoo - Since the Diesel Emission Cheating scandal, Volkswagen Group has been carrying out new strategic planning and new business development, committed to providing new travel service. Reporters hear from automotivenewsEurope, a European media, that Volkswagen Group recently acquired the North American Mobile Payment software -- PayByPhone, which is thought to be the latest action taken by Volkswagen Group to expand from traditional car manufacturing business to mobile business.

PayByPhone is a smart phone APP, through which car owners can pay parking fees. PayByPhone occupies a high market share in North America, whose total transactions in 2016 exceed $250 million.

Through the acquisition of PayByPhone company, Volkswagen group increases the penetration in mobile internet field, and thus occupies the leading position in the field of mobile payment. Since then, Volkswagen will not be just a traditional car manufacturer.

Earlier this month, Volkswagen established a new brand - Moia, which covers many fields, including summoning a car online, car sharing, automatic driving, new energy and other areas. The establishment of Moia enhances Volkswagen’s competitiveness in the industry of mobile travel service. The acquisition of PayByPhone also reflects Volkswagen’s determination to develop in a new field.