Daimler Financial Services AG has announced it plans to acquire the electronic payment services provider PayCash Europe SA. The move is a sign of the increasing competition among makers looking for ways to allow users of mobility services, such as ride-sharing, car-sharing, etc. to pay for those services.
With a new foothold in the ePayment business, Daimler AG is preparing to its own electronic payment services provider under the “Mercedes pay” brand name. Terms of the acquisition by Daimler Financial Services AG were not disclosed.
However, the acquisition signals an intensification of the fight for digital payment services by automakers, which see it as a crucial element of expanding transportation services such as ride sharing. (more…)