JPMorgan Envisions Connected Economy on Wheels

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The car — that steel horse that’s the main way we get to where we need to go — is rapidly becoming a conduit of commerce.

And as that happens, original equipment manufacturers (OEMs), or car manufacturers in this case, have the ability to deepen their relationships with the consumers who buy their cars and find value in the range of expanded functions that are available as they sit behind the wheel, navigate the dashboard and get things done as they get going.

J.P. Morgan CEO of Merchant Services Max Neukirchen told Karen Webster that the car is “becoming a device,” connecting us to payments, to a broad range of services tied to maintaining the vehicle itself and even, eventually, to banking.

Right now, transportation-connected commerce is a bit fragmented. There are apps to get gas, there are apps to (virtually) feed parking meters and apps to pay tolls. The connected car experience, for lack of a better term, is hitting some speed bumps, if…

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