MasterCard and BMW Create Contactless Credit Card for DriveNow Car Sharing

January 7, 2015, Written By Lynn Oldshue
MasterCard and BMW Create Contactless Credit Card for DriveNow Car Sharing

MasterCard and BMW have joined forces to create a contactless credit card that can be used with BMW and MINI vehicles on the DriveNow car sharing fleet. The card has the ability to hire, unlock and operate the vehicles, all while providing an opportunity for cashless payments.

DriveNow offers a series of vehicles that can be reserved and rented for short periods of time in major cities. The program is mainly designed for local residents who need on-demand transportation as well as visitors who need short-term travel accommodations.

Traditionally, users may reserve cars through DriveNow by signing up on the computer or through a smartphone app, and then selecting the cars they want. They are then able to access the vehicle they need with a photo ID or with the smartphone app. Their credit card on file is charged by the minute, and when they return their car, the charges stop.

The new credit card makes this process even easier. The card communicates with vehicles using near field communications (NFC), allowing users to just get into their new cars and drive away. They can actually use their card as a key for the car. There are no additional identification requirements because the card already contains all that information.

The concept for the contactless card was revealed at the 2015 Consumer Electronics Show, and there is no release date for the program at this time.

The information contained within this article was accurate as of January 7, 2015. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for for twelve years. She majored in public relations at Mississippi State University.
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