- UK mortgage market activity buoyant during November 2017
- Banks grapple with the technology implications of PSD2 and Open Banking
- Envestnet|Yodlee offers banks a solution that complies with PSD2 in the UK
- Italian banks will continue to heal in 2018, says S&P
- Finance sector taking action to address its reliance on paper
- Brickendon asks if it time for financial services to embrace robots
- Money Dashboard welcomes implementation of new banking rules expired
- Digital advancement puts us at risk of being unprepared for death, says Lloyds expired
- EBA Risk Dashboard confirms steady improvements in the EU banking sector expired
- Open Banking promises to save SMEs money and time expired
- Responsible growth delivers solid 2017 results for Bank of America expired
- Goldman Sachs posts Q4 loss of $1.93bn expired
12th January 2018
Mastercard and HERE to create next-generation connected vehicle services
Mastercard and HERE Technologies have agreed to jointly create more connected experiences for people on the move. Under the agreement, the two companies will build on their respective digital payment and mapping technologies to take friction out of an increasingly mobile world and shape the next generation of connected vehicle services. The programs and ideas will build on global standards and open APIs to enable a superior user journey at scale – from personalised discovery and choice through to secure check-out, and relevant loyalty rewards.
Besides further advancing connected vehicle payments, additional use cases that may be explored include mobility-as-a-service (MaaS), demand management and location-based offerings. Solutions for these use cases will aim to leverage data analytics capabilities from both companies, including HERE’s Open Location Platform.
Hany Fam, executive vice president, Enterprise Partnerships, Mastercard, said: “With more users than ever moving between different places and devices, enterprises need to work more closely together to curate experiences that put people, not things, at the centre. By combining our expertise and our reach, Mastercard and HERE Technologies have the opportunity to empower mobile lifestyles in the most secure, informed and inclusive way.”
Angel Mendez, executive vice president and chief operating officer, HERE Technologies, said: “Location technology and digital payments are at the heart of how we access services in the physical world. Together they enable people, businesses and cities to deliver, and act on, valued information at the right time and location. We look forward to working with Mastercard on a wide-ranging innovation program that will help shape the personal experience of users across transportation modes and within smarter cities.”
Under the agreement, HERE will also join City Possible, an initiative to foster new forms of collaboration between the private and the public sector for more inclusive and more sustainable urban development. HERE Technologies is backed by Audi, BMW, Daimler, Intel and Pioneer, with Bosch and Continental also poised to become shareholders in 2018.