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Volkswagen Acquires PayByPhone Parking Payment Operator

Volkswagen Acquires PayByPhone Parking Payment Operator

 Source:Bloomberg | Publication date: Dec 28, 2016 | Author(s):Elisabeth Behrmann

Volkswagen AG has purchased PayByPhone, a move that the German automaker says will make its Volkswagen Financial Services division the leader in the mobile parking payment market.

The Vancouver-based operator allows drivers to pay for parking via its mobile application, website or call center. Offering its services in Australia, Canada, France, New Zealand, USA and the UK, the firm processed more than $250 million in transactions in 2016.

The PayByPhone acquisition follows Volkswagen’s introduction of its Moia ride-hailing and car-sharing division earlier this month. The business unit is said to be part of Chief Executive Officer Matthias Mueller’s strategy to pursue opportunities in the mobility services and automated driving sectors in the wake of its emissions scandal.

In 2015, Volkswagen’s financial services division bought a controlling interest in Sunhill Technologies GmbH, the leading provider of mobile parking payment services in Germany.

Read full article at: Bloomberg »





 
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