Acquisition of ePayment Provider PayCash
“'Mercedes pay' will be a central component of Daimler's mobility and digitization strategy," explains Bodo Uebber, Member of the Board of Management of Daimler AG responsible for Finance & Controlling and Daimler Financial Services (DFS), the importance of the acquisition. "Daimler's new payment system underscores our ambition, as a leading provider of digital mobility services, to make the products and services we offer even more appealing." 'Mercedes pay' will be integrated into Daimler Mobility Services GmbH, a subsidiary of Daimler Financial Services that incorporates a number of different mobility services including car2go and the mytaxi taxi app.
Mobility at your fingertips promoted by ‚Mercedes pay‘
In 2016, Daimler Financial Services had more than four million financed vehicles in its portfolio. The new payment system is going to facilitate these and other financing transactions in the future. Klaus Entenmann, Chairman of the Board of Management of Daimler Financial Services: "Our philosophy is to provide 'Mobility at your fingertips'. 'Mercedes pay' allows our customers to easily and securely pay for our mobility offerings and services using their smartphones.”
Customers will benefit
'Mercedes pay' will mainly benefit customers: In the future they will only need to provide their payment details once in order to be able to use many of Daimler’s services. This is made possible by the "eWallet", a virtual source of payment. PayCash Europe SA is a financial institution that is regulated by the Luxembourg banking authority with a license for electronic cash. The ePayment company, which was founded in 2012, also offers solutions for cryptocurrencies such as Bitcoin and eWallet systems in addition to mobile payment services.