Sheeva.AI and Visa Acceptance Solutions launch platform to bring tokenization to in-vehicle payments
Sheeva.AI, a provider of in-vehicle payments and services, and Visa Acceptance Solutions, a specialist in digital payments, have launched a new tokenization platform for in-vehicle commerce.
Sheeva.AI will leverage Cybersource Token Management Service, a part of Visa Acceptance Solutions, to power what is pitched as the first multi-use tokenization platform for in-vehicle payments by using precise vehicle location to authorise payments at the point of service.
“The ease and efficiency of tokenization unlocks the multi-billion-dollar opportunity that is in-vehicle payments,” says Evgeny Klochikhin, Founder and CEO at Sheeva.AI.
“Our product suite empowers the driver to locate and activate the fuel dispenser, EV charging station, parking gate or toll from inside the car to enable the transaction to happen, and Visa Acceptance Solutions’ platform makes the payment simple and seamless.”
“Tokenization is becoming the global standard for secure payments of all kinds,” says Jignesh Kacheria, Vice President of Product Management at Visa. “We look forward to working with Sheeva.AI to power wider adoption of this new category of digital payments inside the vehicle.”
“The payments landscape is complicated especially when you cross as many geographies and retailer tech ecosystems as we do,” Klochikhin adds.
“We’ve been refining our products for months, improving our API-driven processes and mapping millions of service points in India, US, Japan, and Europe. We knew the payments process would become a challenge. Visa Acceptance Solutions has the right solution for us to solve this challenge globally.”
2023 RTIH Innovation Awards
Sheeva.AI is among the shortlisted companies at the 2023 RTIH Innovation Awards.
Alongside the likes of ACI Worldwide, EposNow, and MishiPay, it Is in the running for our Payments Innovation gong.
Our winners will be revealed at a fantastic awards ceremony, which will take place at the Barbican Centre in central London.
The event will be held on Wednesday, 29th November, maintaining its popular evening format, with a drinks reception in the stunning Conservatory, followed by a Christmas themed three course meal, and awards ceremony in the Garden Room.
To book your place at this must attend event, click here.
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