Alipay and Xpeng Entering In-Car Payment Market

FACTS

  • Xpeng Motors unveil an agreement with Alipay on jointly developing in-car payment features.
  • Goal: enable car drivers to make payments from their dashboard.
  • This agreement stems from a partnership announced in September between Alibaba and the electric and autonomous car manufacturer, on implementing Alibaba’s in-Car Mini App platform in Xpeng P7.
  • In line with this partnership, car drivers’ Xpeng ID account, Alipay account and apps from Alibaba in-Car Mini App platform will be connected starting in Q2 2020.
  • This new payment solution should enable customers to pay for:
    • Electric car charging,
    • Data plans,
    • Vehicle violation inquiries,
    • etc.
  • Their jointly designed solution will first be implemented in P7 models, Xpeng’s upcoming sports sedan model.

CHALLENGES

  • Security challenge. The in-car payment solution would be relying on the same technologies as Alipay for ensuring transactions’ security. AlphaRisk risk management tools will be integrated with the payment solution to detect and monitor risks in real time.
  • Identification technologies will also contribute to securing transactions while improving customers’ payment experience, too. Besides, they will rely on Big Data and Machine Learning to better secure financial transactions and personal data.

MARKET PERSPECTIVE

  • Xpeng Motors is already supported by Alipay’s parent company, Alibaba, and attracted several investors, such as Xiaomi. Just days ago, this car maker (inspired by Tesla) announced a $400 million funding series led by Xiaomi.
  • After in-car payments for fuel (Jaguar), toll roads (Honda) or connected commerce (BMW), Xpeng Motors and Alipay are featuring in-car payments for a wide range of services, including settling fines.

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