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PayByCar is the Future of In-Vehicle Payments Technology

What the company does

PayByCar is a mobile payments startup responsible for providing pay- by-text payments for in-vehicle purchases. The technology allows customers with toll transponders like E-ZPass or PayByCar’s own non-toll RFID windshield Smart Tag stickers to perform contactless payments from the user’s mobile device, without ever having to use cash, credit cards, or mobile apps.

The Current Landscape

The mobile payments industry is everywhere. Google Pay and Apple Pay are the leaders of e-wallets that can be used at any retailer and e-commerce beyond Google or Apple's stores. For retailer branded wallet apps, like Starbucks or Gulf Pay, etc. users are only able to buy gas, goods, and services at specific retail locations (for ex: only at Starbucks, and Gulf gas stations); in other words, the retail branded wallet apps are vertically integrated. PayByCar on the other hand, removes the need for an app and allows users to pay for goods & services across multiple retail brand locations. For example: currently, PayByCar users can pay for gas at participating Circle K and Alltown Mobil gas stations via text message. What makes PayByCar unique is that you can simply drive in, be notified on arrival, purchase your goods, and pay for it using a TEXT message. Beyond gas, PayByCar plans to expand services to convenience stores, drive-thrus, parking garages, and many more.

Company Birth Story

Originally, the idea for PayByCar came from green policy and fuel purchases for drivers at gas stations – that if one could recognize a vehicle at the point-of-sale during refueling it would enable a variable gas tax based on factors like the specific vehicle’s fuel efficiency – to leverage gas price sensitivity to spur adoption of fuel- efficient vehicles. That’s still a great idea but not a business model. However, the same concept of integrating three elements – vehicle ID at the point-of-sale integrated with the driver’s preferred payment card or wallet, and the retailer’s POS system would make a very simple, secure, and fast in-vehicle payment process.

The Solution

What sets PayByCar apart is our approach to taking the path of least resistance by leveraging existing consumer behavior and technology in a way that can later support newer tech as it comes online. For consumers, that means leveraging what is arguably the first “contactless payment” around – electronic toll collection, which has been around for over 20 years. So there are over 65M toll tags in use in the US, not counting millions of non-toll RFID tags in use, and people get it. PayByCar took a less-traveled path by pursuing an agreement with the E-ZPass Group, the coalition of toll agencies spread across 19 states, to use E-ZPass tags (there are 45M of them) for the vehicle ID component. And for payment, rather than requiring yet another app download by consumers, we leverage another even more widely adopted app on everyone’s phone: texting for “pay-by-text”. The charge goes directly over the merchant’s rails to the wallet designated by the consumer.

Following PayByCars 2021 state-wide launch of its exclusive in- vehicle payment platform with 27 Alltown gas stations, the company has grown awareness through retail, transit, and fintech partnerships across the nation, including partnerships with the E-ZPass Group, state DOTs, Global Partners LP, Star Systems International, and others. In April of 2022, PayByCar Completed a $4 Million Seed Funding to fuel innovation and expand their services.

A Customer Story

PayByCar eliminates multiple points of contact like touching public surfaces, swiping cards, entering PINS, or waiting for paper receipts, the process also cuts transaction time in half.

This summer, PayByCar and Alltown® gas stations, along with the help of “Driven by E-ZPass™” are easing the burden on customers wallets by offering a 30-cent per gallon discount promotion for drivers who sign up for and use PayByCar™at any of Alltown’s® 27 participating Massachusetts gas stations through Labor Day of 2022.

The Team Culture

The team at PayByCar is comprised of Kevin Condon (Founder, CEO), Anand Raman (President, Co-Founder), and Dharin Shah (Marketing Manager); key partners in marcomm and fintech software; a board of advisors that includes a former governor, an MIT professor, former transportation officials, and fintech entrepreneurs among others.

Kevin Condon is an experienced chief executive officer. Inventor of PayByCar and Efficient Vehicle Assessor (EVA), platforms that change how consumers do business from their cars, and a subject matter expert in sustainable transportation funding.

Anand Raman is an experienced start-up executive. Former business development executive at multiple companies including, Wiser Solutions, Mobee, Moontoast, and instream Media.

Dharin Shah is a marketing professional with a knack for persuasive storytelling at PayByCar where he enjoys being hands-on in getting to know what PayByCar’s customers wants and needs are to create a better experience for PayByCar’s users.

A founder quote

“Since the completion of PayByCar’s $4 million seed funding round in April of 2022, Our company has begun our next chapter in financing the expansion of our services across states, and industry verticals like parking, retail, and other sectors,” said Anand Raman, President, and co-founder of PayByCar.

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