News: PayCash Europe SA becomes the electronic payment system for services Daimler Group

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PayCash Europe SA becomes the electronic payment system for services of the Daimler Group under the new brand name ‘ Mercedes pay‘.

Stuttgart – Daimler Financial Services AG is acquiring the electronic payment service provider PayCash Europe SA. By entering the ePayment business, Daimler AG will launch its own electronic payment service provider under the brand name ‘Mercedes pay’ in the future. “‘Mercedes pay’ is an elementary component of our mobility and digitalisation strategy. The new Daimler payment system underlines our claim to make our offers even more attractive as a leading provider of digital mobility services,” explains Bodo Uebber, Member of the Board of Management of Daimler AG responsible for Finance & Controlling and Daimler Financial Services. Confidentiality was agreed on the details of the acquisition.

Klaus Entenmann, Chairman of the Board of Management of Daimler Financial Services AG: “Our philosophy is ‘Mobility at your fingertips’. Our customers can use ‘Mercedes pay’ to pay for our mobility and services very simply by smartphone. Mercedes pay’ enables technically simple and secure processing of our digital offers. The main beneficiaries will be the customers, who will only have to enter their payment data once in future in order to use various Daimler services. This will be possible with the so-called eWallet, a virtual wallet.”

Mercedes pay’ will be integrated into Daimler Mobility Services GmbH, a subsidiary of Daimler Financial Services. Various mobility services are bundled here, including the car-sharing market leader car2go or the taxi app mytaxi, which is operated in nine European countries. In 2016, the financing and leasing service provider Daimler Financial Services included more than four million financed vehicles from the Daimler Group in its portfolio for the first time. In the future, these and other financing transactions will be made possible via the new payment system.