DKV acquires stake in PACE’s Mobile Payment Platform
Ratingen, 01 September 2020. Mobility service provider drives digitization forward and puts its full trust in Connected Fueling technology from Karlsruhe.
The mobility service provider DKV Mobility puts its full trust in the independent mobile payment platform of the smart mobility provider PACE, in yet another move towards digitalization. The Karlsruhe-based start-up is one of the technologically leading providers of connected car services.
The core product Connected Fueling offers drivers the possibility to pay their fuel bill with their smartphone directly at the gas stations. This eliminates waiting times at the payment counter and allows drivers to receive their e-receipts directly on their mobile. The contactless payment function also helps to reduce the risk of infection, especially in times of corona, by reducing social contacts during payment.
Fuel companies can also use the platform to offer end customers services tailored to their specific needs, such as car wash. The neutral platform is open to all fuel companies, POS system providers and OEMs and is on its way to becoming the central technology for the digitalization of the fuel industry in Europe.
DKV and PACE have agreed on a strategic partnership and DKV is acquiring a minority stake in PACE.
„By acquiring a stake in PACE, we are progressively expanding our digitalization sphere“, says Marco van Kalleveen, CEO of DKV Mobility. „The strategic alliance with one of the leading Connected Car Services providers will help us to successfully shape the rapidly advancing digitalization in the fuel industry together with our customers and our partners“.
Dr. Martin Kern, Co-Managing Director at PACE, adds: „For us, the partnership with DKV Mobility is a solid confirmation that we have done many things right in building up connectedfueling.com over the past few years. We are very much looking forward to this collaboration with the market leader in Europe on this innovative topic. Together with DKV, we want to establish the leading open marketplace for mobile payment“.
ACXIT Capital Partners acted as exclusive financial advisor to PACE Telematics GmbH. Both parties have agreed not to disclose the total amount of the transaction.
PACE Telematics, based in Karlsruhe, is one of the technologically leading providers in the field of Connected Car Services. PACE operates a manufacturer-independent, cloud-based Automotive Big Data and IoT platform. With its technology, the Karlsruhe start-up offers Connected Car solutions for B2B and private customers. The central product is the platform connectedfueling.com. For end customers, PACE also offers the free PACE Drive App (for iOS and Android), with which mobile payment at the gas pump can be used without further costs or obligations. The PACE Drive App also includes a gas station search with price comparison in real time.
About DKV Mobility
DKV has been one of the leading mobility service providers for the logistics and transport industry for over 80 years. From cashless route delivery at over 140,000 cross-brand acceptance points to toll collection and VAT refunds, DKV offers a comprehensive range of services for optimizing and managing vehicle fleets throughout Europe. DKV Euro Service is part of the DKV MOBILITY SERVICES Group with over 1,200 employees. In 2019, the Group achieved a transaction volume of 9.9 billion euros and was active in 42 countries. Currently, more than 4.2 million DKV CARDs and on-board units are in use with over 230,000 contractual partners. In 2020, DKV CARD was named the best brand in the fuel and service card category for the 16th time in a row.
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