How Car IQ Works
Car IQ has created a payment solution for vehicles. Through our underlying technology, KYM, vehicles are able to transact autonomously with approved merchants and service providers.
Car IQ’s technology authenticates and verifies each vehicle, this verified identity acts as the authorization for vehicles to transact ensuring dispute free transactions. Our technology also validates delivery of goods or service and facilities payment between the vehicle and merchant.
Eliminate Fraud and Dispute
As a preferred merchant disputes around goods and services rendered are all but eliminated. Our technology validates delivery to the vehicle upon your request for payment. This allows both parties to trust the goods or service was delivered and reconcile the payment.
Efficient Payment Process
Car IQ's underlying technology is based on a patented machine identity verification "Know Your Machine" (KYM) process, which enables goods and services rendered to be paid for, quickly and efficiently without the need to manually send invoices and collect overdue payments.