Car IQ
Car IQ Pay is a vehicle-to-merchant payment platform enabling commercial fleets to autonomously pay for fuel, tolls, parking, and EV charging without fleet cards, using proprietary vehicle identity verification. It serves mid-market and enterprise fleet operators across North America.
- Company typePrivate
- Founded2016
- HeadquartersSan Francisco, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Car IQ does
Car IQ is a San Francisco-based vehicle payment platform founded in 2016 by Sterling Pratz. The company's core product, Car IQ Pay, enables vehicles to autonomously connect to payment networks, validate services, and complete transactions for fuel, tolls, parking, EV charging, and vehicle services without physical credit cards or transponders. The platform is built on a proprietary "Know Your Machine" (KYM) identity verification technology that creates a unique digital vehicle fingerprint from telematics sensor data, combined with dynamic authorization that validates transactions against real-time vehicle needs. Car IQ operates over Visa and Discover payment networks and is accepted at more than 25,000 fuel stations across brands including ExxonMobil, Shell, Circle K, Sunoco, Sinclair, and Kum & Go.
The company serves primarily mid-market and enterprise commercial fleets, with named customers spanning fleet management, surveillance, HVAC, risk management, and wholesale/retail verticals. Revenue is generated through transaction processing fees and recurring platform subscriptions, with quote-based pricing tied to fleet size and transaction volume. Car IQ employs between 51 and 100 people and is led by CEO Sterling Pratz and CTO Arun Yadav (joined October 2022 from Apple, where he led Apple Pay features and the Apple Car Key launch).
Following the Element Fleet Management acquisition on December 31, 2025 for $80 million, Car IQ operates as a subsidiary of Element Mobility, extending its vehicle-initiated payment capabilities into Element's North American fleet management platform across the U.S. and Canada.
Car IQ firmographics
Firmographics- Name
- Car IQ
- Legal name
- Car IQ Inc.
- Website
- https://cariqpay.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Acquired
- Headcount range
- 51–100 employees
- Short description
- Car IQ Pay is a vehicle-to-merchant payment platform enabling commercial fleets to autonomously pay for fuel, tolls, parking, and EV charging without fleet cards, using proprietary vehicle identity verification. It serves mid-market and enterprise fleet operators across North America.
- Ownership category
- akta.pro rank
Car IQ industry classification
Industry- Product category
- Fleet Payment Technology
- akta.pro primary industry
- Transit & Mobility Fare Cards (Stored Value) (FSAMANAG)
- akta.pro secondary industries
- Video Telematics, ADAS & AI Dashcams (TLAEAFAG), Driver Behavior Scoring & Coaching Platforms (TLAEANAB), Smart Card & Closed-Loop Fare Media Systems (THAIAMAC)
Keywords
Where Car IQ is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Car IQ business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Transaction Processing Fees: Car IQ earns fees per transaction processed through its payment platform. Fleet operators pay for each fuel, toll, and other vehicle service transaction facilitated by Car IQ Pay. The platform's value proposition includes reducing fraud costs (5-15% of fuel spend) and back-office reconciliation time, which justifies transaction fees.
- Fleet Subscription/Platform Fees: Fleets subscribe to the Car IQ Pay platform to manage vehicle payments. The platform provides features including one ledger for all transactions, spending controls, fraud prevention, and real-time visibility. Financing options with competitive rates and no hidden fees are available for fleet customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Quote-based pricing tailored to fleet size and usage |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Car IQ product offering
Product offeringCore offering
Car IQ Pay is a vehicle-to-merchant payment platform that enables commercial fleet vehicles to autonomously initiate, validate, and complete authorized transactions for fuel, tolls, parking, EV charging, and other services without physical credit cards. The platform leverages vehicle telematics data and proprietary identity verification to authorize transactions dynamically, with acceptance at over 25,000 fuel stations nationwide.
Product overview
Car IQ offers Car IQ Pay as its core payment platform, with the Vehicle Wallet as a key sub-product for in-dash payments. The platform consists of a unified payment network for fleet vehicles that replaces traditional fleet cards. Core capabilities include the Know Your Machine (KYM) identity verification technology, Dynamic Authorization for real-time transaction validation, and a Single Ledger Platform for consolidated reporting. The Merchant Network provides acceptance at 25,000+ fuel stations nationwide. Additional features include Tap to Pay mobile functionality. The platform is powered by payment networks including Visa and Discover Global Network, with integrations into telematics systems for vehicle data.
Differentiator
Problem solved
Functional benefit
Products and services
- Car IQ Pay Fleet payment platform enabling commercial fleet vehicles to connect directly to merchants and pay for fuel, tolls, parking, EV charging, and other services without credit cards. Uses vehicle telematics data for real-time transaction authorization, dynamic authorization based on vehicle needs, and automatic fraud validation.
- Vehicle Wallet In-vehicle payment wallet embedded in the car's infotainment system, developed in partnership with BlackBerry IVY. Enables drivers to pay for fuel, tolls, parking, EV charging, and service/repairs directly from the vehicle's dashboard without physical cards.
- Tap to Pay Mobile app feature powered by vehicle data that links the vehicle to the driver's mobile wallet, allowing drivers to tap their mobile device on the pump to unlock it and pay for fuel nationwide using vehicle data authentication.
- Circle K Pro Digital+ Co-branded mobile app powered by Car IQ enabling cardless fleet payments for fuel, tolls, and vehicle expenses at over 7,000 Circle K locations across the US. Features include driver onboarding, transaction visibility, and geofencing.
- BlueArrow Pay Co-branded card-free payment platform for fleets launched with BlueArrow Telematics that replaces fuel cards with direct vehicle-to-merchant payments.
- Merchant Network Network of fuel stations, convenience stores, toll systems, and service providers that accept Car IQ Pay. Includes major brands such as Shell, Sunoco, Kum & Go, Circle K, Sinclair, Exxon Mobil, and Huck's Convenience Store, with coverage at over 25,000+ fuel stations nationwide.
Quantifiable outcome
- Fleets save an average of 30 cents per gallon on fuel by restricting access to expensive stations
- +3 more outcomes
Companies that use Car IQ
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles3 records
Car IQ technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability2 records
Feature5 records
Car IQ partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered minor, core and flagship.
- EG AmericaminorCar IQ Pay expanded merchant network through partnership with EG America, adding additional fuel station acceptance locations.
- Circle KcoreCircle K launched Pro Digital+, a next-generation fleet payment solution powered by Car IQ, enabling cardless fleet payments for fuel, tolls, and vehicle expenses at over 7,000 Circle K locations across the US.
- BlueArrow TelematicscoreCar IQ partnered with BlueArrow Telematics to launch BlueArrow Pay, a co-branded card-free payment platform for fleets that replaces fuel cards with direct vehicle-to-merchant payments.
- Element Fleet ManagementflagshipElement Fleet Management acquired Car IQ in December 2025 for $80M, integrating vehicle-initiated payment capabilities into Element's fleet management platform. The acquisition creates the fleet industry's first scaled platform for intelligent, vehicle-initiated payments across the US and Canada.
- Huck's Convenience StoreminorCar IQ partnered with Huck's Convenience Store, expanding their payment network to 128 stores across five states. Fleets can use Car IQ Pay at Huck's locations.
- Exxon and MobilcoreCar IQ Pay expanded merchant network to over 12,000 Exxon and Mobil stations, including 8,200+ with retail diesel pumps, significantly expanding acceptance coverage.
- Fluid TruckcoreCar IQ partnered with Fluid Truck, integrating its vehicle wallet into Fluid's commercial vehicle rental platform. Drivers can find gas stations and fuel up without fleet cards, with transactions reconciled automatically in Fluid's back office.
- PDI TechnologiescoreCar IQ partnered with PDI Technologies to utilize its mobile payment technology (mPAY) for processing cardless fleet transactions. The partnership provides access to PDI's existing merchant network and c-store purchase capabilities.
- HF SinclaircoreCar IQ partnered with HF Sinclair Refining & Marketing to enable fleet payments at nearly 1,600 Sinclair stations across 30+ states. Fleet customers can fuel using Car IQ Pay instead of credit cards.
- BlackBerry IVYcoreCar IQ partnered with BlackBerry IVY to demonstrate the first embedded vehicle wallet at CES 2023. The technology embeds payments directly in the car, enabling drivers to pay for fuel, tolls, parking, EV charging, and service from the dashboard without sending user data to the cloud.
- Verra MobilitycoreCar IQ partnered with Verra Mobility (NASDAQ: VRRM) to offer fleet customers a complete toll management and payment solution. The partnership expands Car IQ's offerings beyond fuel to include nationwide toll payment, violation protection, and unified billing.
- Visa Fintech Fast TrackcoreCar IQ joined Visa's Fintech Fast Track program, gaining accelerated access to Visa's global payment network, security capabilities, and expert guidance for scaling vehicle payment solutions globally.
- Kum & GocoreKum & Go accepts Car IQ Pay at 400+ locations across the Midwest. Fleet vehicles can connect directly to pumps and pay without credit cards, with the partnership extending Car IQ's network throughout the Midwest.
- SunococoreSunoco accepts Car IQ Pay at nearly 5,000 branded fuel locations nationwide. The partnership enables fleet vehicles to connect directly to Sunoco pumps and pay without credit cards, PINs, or odometer readings.
- DiscoverflagshipDiscover partnered with Car IQ to create an innovative payment platform for machine-initiated payments for automotive fleets. Vehicles connected to Car IQ can transact autonomously through the Discover Global Network for services including fueling, tolls, parking, and more.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Car IQ competitors and assessment
Company assessmentDirect peers
- WEX Inc. WEX is the largest dedicated fleet-card and fleet-payments provider in North America, serving over 600,000 commercial customers. It is the most direct competitor to Car IQ Pay in the fuel/toll payment space and the incumbent Car IQ must displace to win enterprise fleets.
- Comdata (FleetCor): Comdata, a FleetCor subsidiary, is one of the largest commercial-fleet payment and fuel-card networks in the US. It competes head-to-head with Car IQ for fleet payment volume and has established merchant acceptance across fuel brands similar to Car IQ's network.
- Fleetio: Fleetio is a modern fleet management platform that integrates fuel-card and payment workflows for SMB and mid-market fleets. Fleetio is also a Car IQ channel partner (Car IQ Pay is integrated into Fleetio), making it both a partner and a competitive fleet-payments platform.
Emerging players
- AtoB: AtoB is an early-stage fintech building a fleet payment and fuel-card platform targeting modern trucking and SMB fleets. It pursues a similar thesis to Car IQ—replacing legacy fleet cards—but without telematics-anchored identity, making it a partial-overlap competitor.
- Coast: Coast is a venture-backed fleet fuel-card and payments startup targeting SMB fleets and gas stations. It overlaps with Car IQ on fleet fuel-payment transaction economics but lacks Car IQ's vehicle-initiated authentication model.
- Eden: Eden (formerly Wex-equivalent SMB challenger) provides fleet management software with integrated payments and vehicle data. It competes with Car IQ in the SMB/mid-market fleet segment and shares the telematics-to-payment integration approach.
Broad incumbents
- Samsara: Samsara is the largest connected-fleet telematics platform with increasing payment and fuel-management features. Its scale, OEM relationships, and broad product suite make it a long-term threat to Car IQ's telematics-anchored differentiation.
- Geotab: Geotab is a leading global telematics platform used by many of the same enterprise fleets targeted by Car IQ. Geotab's MyGeotab platform and ecosystem partnerships could absorb fleet-payment functionality, competing with Car IQ at the platform layer.
- Element Fleet Management: Element Fleet Management is Car IQ's parent company post-acquisition and the largest pure-play fleet management company in the world. As both owner and largest customer-distribution channel, Element is the single most consequential relationship for Car IQ's forward trajectory.
- US Bank Voyager Fleet: US Bank's Voyager Fleet System is one of the largest commercial fleet-card networks, accepted at thousands of fuel and service locations. It competes with Car IQ on acceptance breadth and is entrenched with large enterprise and government fleets.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Car IQ social profiles
Digital presenceCar IQ financial estimates
Financial estimateRevenue estimate
Valuation estimate
Car IQ leadership team
Management profileNumber of profiles
Profiles4 records
Car IQ funding detail
Funding detailFunding overview
Funding rounds10 records
Investors23 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Car IQ M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Car IQ
What does Car IQ do?
Car IQ Pay is a vehicle-to-merchant payment platform that enables commercial fleet vehicles to autonomously initiate, validate, and complete authorized transactions for fuel, tolls, parking, EV charging, and other services without physical credit cards. The platform leverages vehicle telematics data and proprietary identity verification to authorize transactions dynamically, with acceptance at over 25,000 fuel stations nationwide.
Is Car IQ a public or private company?
Car IQ is a private company. It is classified as corporate owned and is currently acquired.
When was Car IQ founded?
Car IQ was founded in 2016. It employs 51 to 100 people.
Where is Car IQ based?
Car IQ is headquartered in San Francisco, United States, in the North America region.
How does Car IQ make money?
Two revenue lines are on record. Transaction Processing Fees are the primary driver. The others are fleet Subscription/Platform Fees.
Who are Car IQ's main competitors?
Direct peers on record are WEX Inc., Comdata (FleetCor) and Fleetio. Emerging players are AtoB, Coast and Eden. Broad incumbents are Samsara, Geotab, Element Fleet Management and US Bank Voyager Fleet.
Does Car IQ have an API?
No public API is recorded for Car IQ.
What industry is Car IQ in?
Car IQ's product category is Fleet Payment Technology. Its primary akta.pro industry code is FSAMANAG, Transit & Mobility Fare Cards (Stored Value), with a secondary code of TLAEAFAG, Video Telematics, ADAS & AI Dashcams.