BP Invests EUR10 Million in In-Car Digital Payments Startup
September 07 2021 - 5:18AM
Dow Jones News
By Jaime Llinares Taboada
BP PLC said Tuesday that it is investing 10 million euros ($11.9
million) in ryd, an in-car digital payments provider.
The energy company said ryd, a product of Munich-based start-up
ThinxNet GmbH, offers a conventional single digital solution for
drivers to pay for services such as fuel, electric vehicle charging
and car washing via its app or through integration with smart car
systems.
BP aims to learn and benefit from ryd's secure, scalable and
flexible payment options to expand its own offering for BP
customers across Europe, it said.
The connected car data market is forecast to reach $19 billion
globally by 2030, and the non-fuel retail sales market is forecast
to reach $285 billion by the same year, BP said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
September 07, 2021 05:03 ET (09:03 GMT)
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