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Source: PayByCar
PayByCar, Inc., the mobile payments startup responsible for providing pay-by-text payments at gas stations across Massachusetts, has announced today the completion of a $4 million seed round of funding.
“Following a string of successes since our 2020 pre-seed round funding, today’s announcement is the beginning of our next chapter in financing the expansion of our services across states, and industry verticals like parking, retail, and other sectors,” said Anand Raman, President, and co-founder of PayByCar.
PayByCar allows customers with toll transponders like E-ZPass or PayByCar windshield stickers to perform contactless payments on gas purchases at participating locations from their mobile device, without ever having to touch the pump screen or use cash, credit cards, or mobile apps.
PayByCar users simply pay by confirming a text message when they drive into a participating location, without ever having to open their wallet or touch the fuel dispenser keypad. In addition to eliminating multiple points of touching public surfaces, the process also cuts transaction time in half.
Following PayByCar’s 2021 state-wide launch of its exclusive in-vehicle payment platform, the company has grown awareness through retail, transit, and fintech partnerships across the nation, including partnerships with the E-ZPass Group, state DOTs, Global Partners LP, Star Systems International, and others.
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