CAR IQ Partners with Verra Mobility to Offer Fleet Customers a Complete Toll Management and Payment Solution

SAN FRANCISCO, Dec. 6, 2022 /PRNewswire/ -- Car IQ® Inc., a leading provider of vehicle payment solutions, today announced a partnership with Verra Mobility (NASDAQ: VRRM), a leading provider of toll management and smart mobility technology solutions, that will expand the company's current offerings beyond fuel payments to provide fleet customers with a complete toll payment suite.

Car IQ's partnership with Verra Mobility will allow fleets to seamlessly connect with tolling solutions via Verra Mobility's extensive network and pay without the use of a credit or debit card. With Car IQ Pay fleets will now have a simplified and unified billing platform that facilitates payment of multiple types of services supporting a fleet company's back-end accounting systems.

"Working with Verra Mobility allows us to provide fleets with a single solution for all payment types," said Sterling Pratz, CEO at Car IQ. "Our collaboration with Verra Mobility enhances our payment suite to improve and streamline the tolling experience for our partners while offering bundled mobility payment services along with nationwide fuel and parking that is currently available through Car IQ Pay today."

"We are delighted to be partnering with Car IQ to enable more commercial fleets direct access to toll roads, reducing toll violations, simplifying vehicle transactions and providing an innovative approach to better manage the total cost of fleet ownership," said Steve Lalla, EVP of Commercial Services at Verra Mobility. "We are always focused on simplifying mobility challenges for fleets and are excited to explore future endeavors."

Car IQ will now offer new payment services that provide toll violation protection for vehicles that do not normally use tollways by registering license plates nationally with toll agencies and managing the on-time, direct payment of a fleet's tolls, to avoid violations, penalties or additional fees from a managing toll agency. Car IQ continues to innovate across all payment categories and this partnership will enable fleets to connect, without the use of a credit card, to toll management platforms created and managed by Verra Mobility.

Verra Mobility (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that make transportation safer, smarter and more connected. The company sits at the center of the mobility ecosystem, bringing together vehicles, hardware, software, data and people to enable safe, efficient solutions for customers globally. Verra Mobility's transportation safety systems and parking management solutions protect lives, improve urban and motorway mobility and support healthier communities. The company also solves complex payment, utilization and compliance challenges for fleet owners and rental car companies. Headquartered in Arizona, Verra Mobility operates in North America, Europe, Asia and Australia. For more information, please visit www.verramobility.com.

Car IQ® Inc. has created a payment network for cars that eliminates the need for physical credit cards and enables vehicles to connect to merchants and transact securely. Car IQ's payment solution delivers value by reducing fraud and risk for fleets and participating merchants.  

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SOURCE Car IQ