Bergen, Norway (September 12th, 2024) Casi, a European leader in flexible mobility technology, has entered a key collaboration with J.P. Morgan Payments. As a strategic technology provider for vehicle subscription use cases, Casi will be able to offer J.P. Morgan Payments clients the technology infrastructure to support seamless payments and fleet management for providers of flexible car usership services. This can range from short-term car subscription services to longer-term flexible leasing products. This collaboration will help to enable an easier, more seamless, and integrated payment experience, allowing flexibility and customization, for car subscription services ranging from financing and insurance to maintenance, repairs, parking, and tolls.
Mobility is rapidly changing, and new services to challenge and support the traditional car ownership model are emerging. According to a study by Accenture, the market for digitally enabled mobility services will reach $1.5 trillion by 2030. As cities change to accommodate micro-mobility and car usership, the total distance traveled with these services is expected to increase from 179bn kilometers to 3,300bn kilometers by 2050. The collaboration between J.P. Morgan Payments and Casi positions the two players to serve these new needs already today.
Casi already provides the tech infrastructure for flexible mobility solutions to European automotive companies. Through this new collaboration with J.P. Morgan Payments, both organizations aim to provide more European automotive leaders with the payment model infrastructure they need to launch and operate their services. This will, in turn, help end customers access flexible and more financially sustainable options for owning their cars.
“Casi partners with payment providers to ensure fixed monthly and variable payments. Payments in the automotive industry are complex, as a vehicle can trigger as many as 50 transactions in a month, including financing, insurance, maintenance, repairs, parking, charging, and road tolls. Working with J.P. Morgan Payments provides flexible mobility companies with an automotive-specific payment platform that takes care of everything with no manual work,” says Hans Kristian Aas, CEO of Casi.
J.P. Morgan Payments Mobility Payments Solution provides comprehensive auto-specific payment solutions for car usership services across Europe. The collaboration with Casi helps ensure that companies utilizing this payment solution also have the opportunity to manage their business in a way that integrates with their existing systems and empowers them to focus on scaling a profitable service and delivering a connected customer experience.
“J.P. Morgan Payments is committed to supporting the mobility ecosystem by investing in industry-dedicated solutions. By selecting Casi as a strategic flexible fleet tech provider, we can deliver solutions for our clients that more robust payment experiences to their customers. Combining our regional expertise and extensive security solutions with Casi’s flexible fleet technology, mobility leaders in the automotive industry will be better positioned to expand their services and drive new growth for their businesses,” says Rob Abrams, Head of Mobility Solutions at J.P. Morgan Payments.