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Connected vehicles are becoming increasingly sophisticated, and fleets are looking for new ways to streamline how they manage fuel, maintenance, and service-related spend. Element’s planned acquisition of Car IQ highlights how vehicle-initiated payments, combined with fleet-management scale, can enhance these workflows and give fleet leaders greater visibility, stronger security, and a more connected way to manage expenses.
Integrated, vehicle-initiated payments are emerging as a powerful way to simplify fleet operations and reduce manual work.
Fleets manage billions in annual spend, making automation in payment workflows a high-impact area for efficiency gains.
Car IQ’s technology allows vehicles to authenticate themselves and transact directly with merchants, removing fuel cards, PINs, and post-transaction reconciliation.
Get real-time visibility into vehicle-level spend across major service categories.
Integrated, vehicle-initiated payments are emerging as a powerful way to simplify fleet operations and reduce manual work.
Fleets manage billions in annual spend, making automation in payment workflows a high-impact area for efficiency gains.
Car IQ’s technology allows vehicles to authenticate themselves and transact directly with merchants, removing fuel cards, PINs, and post-transaction reconciliation.
Get real-time visibility into vehicle-level spend across major service categories.
Element has signed an agreement to acquire Car IQ, a leader in vehicle-initiated payments. Once complete, Car IQ’s secure in-vehicle payment capabilities will be integrated directly into Element’s ecosystem advancing our single-pane-of-glass vision and accelerating the future of connected fleet operations.
Vehicle expenses represent a large share of total fleet costs, yet traditional payment systems often slow teams down, requiring data to be managed across multiple tools and limiting real-time insights. Car IQ’s Know Your Machine™ technology shifts these steps into the vehicle itself, enabling fleets to:
Reduce friction and administrative overhead by removing manual steps
Strengthen security by eliminating shared cards and driver PINs
Improve transparency with real-time spend visibility at the vehicle level
Consolidate payments into one connected platform
Gain new intelligence across their mobility lifecycle
This aligns with the broader movement toward automated workflows that help leaders operate with greater speed and confidence in decision-making.
Integrated, vehicle-initiated payments are becoming a core building block of a fully connected fleet experience. By linking payment events with telematics, maintenance, and lifecycle operations, fleets gain a more unified view of how vehicles interact with the services they rely on every day.
Kobi Eisenberg, President of Element Mobility and Autofleet, highlighted the significance of this evolution:
“Digital payments is an important pillar of our Element Mobility strategy. It enhances our connected ecosystem and positions us to deliver a seamless, digital payments experience, enabling clients to operate more efficiently, streamline transactions, and unlock new opportunities across their mobility lifecycle.”
Sterling Pratz, Founder and CEO of Car IQ, reinforced the shared vision:
“Car IQ was built to enable vehicles to seamlessly interact with the physical world. By joining Element, we can accelerate adoption and deliver a broader suite of payment capabilities to more fleets. Together, we will modernize how vehicles pay for everyday services and unlock new data-driven value for clients.”
The combined strength of Car IQ and Element creates a path for more automated experiences across fueling, maintenance, violations, and other service categories.
Car IQ’s team will join Element Mobility as a subsidiary upon closing and continue building advanced payment and data capabilities that support a more connected fleet-management experience worldwide.
As fleets navigate growing complexity, integrated payments represent an important path forward. They offer a way to reduce friction, increase control, and create a more connected view of operations: key advantages as organizations plan for the next era of fleet intelligence and performance.