J.P. Morgan is working on an in-vehicle wallet system with Qualcomm, where they’re doing everything from the in-car, from hardware to the display piece, JP Morgan payments, orchestrating the payments end to end financials with it and it works as one integrated platform. Running end to end has the JP Morgan payments piece, the dash that’s actually there with third party merchants, a complete end to end user experience as a partnership. Rob Abrams, CEO of J.P. Morgan Mobility Payments Solutions says, ” So on the dash, which is then branded by whatever automaker you’re driving, you have the same thing you have today, like the mapping application where you not only can do that, but you have a quick service restaurant that’s also one of the apps on that experience where you can then order your burger and fries or your milkshake, whatever your preference is to order ahead and do the full payment checkout so that when you arrive it’s all paid for, just take the order and go just one example. One of the things that the car has now that the technology is further along today than it was still coming along is it actually knows how long it’s taking because the MAP app says it’s going to take 22 minutes between here and there. It knows based on traffic, here’s when you’re going to arrive approximately. So it can actually put the order in, send it with here’s when penny is going to arrive. The restaurant then can get it ready so that it’s not sitting cold, but it’s also you’re not waiting for it for 15 minutes, the phone out. You’re sort of timing it of when do I actually click the button for order to hope that you get the equation right. Paying for parking would be a good use case for this technology. But through a network of partnerships with various parking providers, some aggregators should be able to just say, go from here to there and reserve the parking, pay for the parking or at least pay for the parking as you drive into the lot or the street parking instead of then having to take your phone out, put in which actual site you’re in and then pay it actually did it all in one step. Certainly everybody’s used to the tolling pieces, going through tolls, not paying, not taking out your credit card to go pay for tolls even in some other places. Having it driven because the car then becomes the credit card in that use case. And then you have some other things like car washes where you drive up instead of having to take out the money or the credit card that it opens up the wash bay and it already knows. So the vehicle is certainly dependent on the vehicle technology for things like strong authentication, so having the fingerprint reader in there, the face recognition is the next and it makes it easier, which also will drive customer adoption. Instead of having to enter in a pin to verify that it’s actually you making a purchase or anything else the same way you would do on your phone, the car needs that same facial recognition or fingerprint authentication in order to make it seamless. I think a lot of it is actually going to be curated to where the vehicle is and provide extra signals that eventually, maybe not in the beginning will actually help reduce the fraud as well. So it knows your vehicle, it knows your driving patterns, it knows where you go, potentially the kinds of purchases. There is some good ability to harness that to reduce, but in the beginning it’ll be about the same. We’ve used credit card as the example for payments here. Pay by bank, larger and larger portion of the payment ecosystem over in Europe it would be directed, but in the US straight pushed by the banks and then can you actually then do this with real-time settlement between the merchants, the automotive manufacturers, et cetera. Eventually it will come more into the states and it’s starting to, they’re all looking at how do I commoditize not only the in-car transaction for while I’m driving, but also the in-car experience for things like subscriptions coming to the vehicle. Because in a very tight margin, business subscriptions are certainly one of the next avenues that they’re going to. So in order to do that, you also need this same ecosystem that allows for driving up to the pump.