NEW YORK, Jan. 7, 2019 /PRNewswire/ -- Visa and SiriusXM
Connected Vehicles Services Inc., a subsidiary of Sirius XM Holdings Inc. (NASDAQ: SIRI), announced today onstage at the Consumer
Telematics Show in Las Vegas their plan to revolutionize the driving experience with a new
in-vehicle payment solution.
Visa and SiriusXM are working to enhance the way customers spend their time in-vehicle and plan to offer the SiriusXM e-wallet
to manufacturers who deploy SiriusXM's connected vehicle services, the broadly adopted connected vehicle platform in North America, serving multiple major automotive brands.
The SiriusXM e-wallet is being designed to integrate into the dashboard and will allow drivers and their passengers to
complete and make purchases for everyday tasks on-the-go: shop and pay for coffee, find and pre-pay for gas, locate and pay for
parking, purchase movie tickets, seamlessly pay tolls, and more. Users will activate and authenticate payment with their Visa
account using biometric authentication, like voice and touchscreen commands, to eliminate driver distractions during the
transaction.
Powered by Visa and SiriusXM application programming interfaces (APIs), the solution can draw on a range of technologies to
enable safer and more secure commerce, including the Visa Token Service, which allows an extra layer of security for
payments.
"Teaming up with SiriusXM is a big step forward in Visa's quest for connected commerce across the automotive ecosystem.
SiriusXM's solid network with automotive manufacturers and established consumer interfaces, combined with our payment expertise,
will help fast-track the endless opportunities for drivers to safely and securely accomplish tasks during their commute," said
Olabisi Boyle, Vice President - IoT Platforms, Visa.
"Visa is the world's leader in digital payments and our Connected Vehicle Services group has deep roots and a broad reach in
the auto industry," said John Jasper, Senior Vice President for SiriusXM Connected Vehicle
Services. "Our work with Visa is a significant step in establishing the next generation of vehicle-to-everything connectivity,
transforming the vehicle into a 'hub' that provides for real-time, convenient transactional services to drivers and
passengers."
To implement these services, Visa is establishing virtual payment relationships through its wide-ranging network of retailers
and providing secure authentication capabilities for added security, while SiriusXM is developing the next-generation protocols
needed to establish real-time connectivity and in-vehicle interfaces with a broad variety of personalized content and data
aggregated from a network of platforms. This suite of services will be showcased to automobile manufacturers during 2019.
Visa and SiriusXM's new in-vehicle payment solution is being presented by Peter Polit, Vice
President and General Manager of Connected Vehicle Strategy and Business Development at SiriusXM, today, January 7, at the Consumer Telematics Show in Las Vegas, Nevada.
For more information, visit https://youtu.be/8VDpqNh1FGQ.
About Visa
Visa Inc. (NYSE: V) is the world's leader in digital payments. Our mission is to connect the world through the most
innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global
processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000
transaction messages a second. The company's relentless focus on innovation is a catalyst for the rapid growth of connected
commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves
from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For
more information, visit About Visa, https://usa.visa.com/visa-everywhere/blog.htmland @VisaNews.
About SiriusXM Connected Vehicle Services Inc.
SiriusXM Connected Vehicles Services Inc., a subsidiary of Sirius XM Holdings Inc. (NASDAQ: SIRI), delivers a broadly adopted
connected vehicle platform in North America. SiriusXM Connected Vehicle Services can be found in
many makes and models from various manufacturers, and give customers access to a suite of safety, security, and convenience
services including automatic crash notification, enhanced roadside assistance, remote door unlock, remote start, stolen vehicle
recovery assistance, turn-by-turn navigation, integration with smart home devices and more.
SiriusXM also owns Automatic Labs, which creates aftermarket products that can transform most vehicles model year 1996 or
later into connected vehicles. By pairing Automatic's install-it-yourself adapter and consumer friendly mobile application,
drivers are able to access many important safety and convenience services. Additionally, developers can use the Automatic
platform to build services and applications that enhance the driving experience, and auto dealers can use Automatic technology to
better serve and stay connected with their customers. For more information, visit www.automatic.com.
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans,
objectives, expectations and intentions with respect to future operations, products and services; and other statements identified
by words such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "believe," "intend,"
"plan," "projection," "outlook" or words of similar meaning. Such forward-looking statements are based upon the current beliefs
and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and
contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events
may differ materially from the results anticipated in these forward-looking statements.
The following factors, among others, could cause actual results and the timing of events to differ materially from the
anticipated results or other expectations expressed in the forward-looking statements: our substantial competition, which is
likely to increase over time; our ability to attract and retain subscribers, which is uncertain; interference to our service from
wireless operations; consumer protection laws and their enforcement; unfavorable outcomes of pending or future litigation; the
market for music rights, which is changing and subject to uncertainties; our dependence upon the auto industry; general economic
conditions; the security of the personal information about our customers; existing or future government laws and regulations
could harm our business; failure of our satellites would significantly damage our business; the interruption or failure of our
information technology and communications systems; our failure to realize benefits of acquisitions or other strategic
initiatives; rapid technological and industry changes; failure of third parties to perform; our failure to comply with FCC
requirements; modifications to our business plan; our indebtedness; our principal stockholder has significant influence over our
affairs and over actions requiring stockholder approval and its interests may differ from interests of other holders of our
common stock; impairment of our business by third-party intellectual property rights; and changes to our dividend policies which
could occur at any time. Additional factors that could cause our results to differ materially from those described in the
forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31,
2017, which is filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site
(http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and we
disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the
date of this communication.
Source: SiriusXM
Media contacts:
Patrick Reilly
SiriusXM
Patrick.Reilly@SiriusXM.com
Kevin Bruns
SiriusXM
Kevin.Bruns@SiriusXM.com
Katie Harris-Maines
Visa Inc.
kathharr@visa.com
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SOURCE Sirius XM Holdings Inc.