In what many may see as a slightly strange move, the Financial Services division of the Volkswagen Group has purchased the leading way to pay for car parking, PayByPhone. The amount the Group will pay, or any other terms of the deal, has not revealed.
PayByPhone has over 12.5 million registered users worldwide, processing more than $250 million in parking payments in 2016 alone. When you consider that a parking fare is nothing more than a few dollars, that's quite a lot of individual payments. The company says that the purchase will allow it to "explore new ways to expand our mobile payments technology" and it is "[looking] forward to accelerating our consumer parking and payments agenda made possible by this deal".Read More