DocuSign, Inc. (DocuSign®) and Visa today showcased a new proof-of-concept that brings together secure contracts and payments made online via a connected car. Unveiled at Money2020 in Las Vegas, the DocuSign demo showcases how consumers can drive a car off the lot in a matter of minutes after securely signing all documents and paying electronically right from the driver’s seat.
The DocuSign proof-of-concept app, embedded into the dashboard of a connected car prototype developed by Visa for car-based commerce, simplifies the process of leasing or buying a car by automating all the steps into a seamless, completely secure electronic environment. The technology enables the car to be a smart asset among the Internet of Things (IoT) with the ability to manage services like auto insurance, lease payments and even tolls and parking. The proof-of-concept was developed using the blockchain and brings DocuSign’s Digital Transaction Management (DTM) platform, eSignature solution and APIs together with the Visa Token Service for secure payment processing.
“Leasing a new sports car – or any car for that matter – should be fun and exciting, but lengthy paperwork and arduous processes often diminish the experience,” said Ron Hirson, Head of Product, DocuSign. “This proof-of-concept makes it easier and faster for customers to get out the door in their new car by bringing together smart contracts and payments so that customers can electronically sign all pertinent documents and seamlessly pay in one fully digital experience.”
“We see a future where car commerce goes far beyond fuel pumps and drive-thrus, becoming a fully automated experience among the Internet of Things,” said Jim McCarthy, Executive Vice President, Innovation and Strategic Partnerships, Visa. “Anything you buy from your car, or for your car, can be enabled by automatic payments: whether it’s a lease payment, insurance or anything governed by a contract. Tolls, maintenance services, music downloads, parking and even charges from the DMV could all be automated through a Visa token that is securely stored in your car,” said McCarthy.
“When a customer, partner or investor wants to partner with us to create new, game-changing innovation, we’re thrilled,” said Keith Krach, Chairman & CEO of DocuSign.”Visa is the trusted global leader in the payment industry, and is relied upon by millions of merchants and billions of consumers around the world. DocuSign is the trusted global leader in Digital Transaction Management and eSignature. Together, our Labs teams are the perfect partners to help consumers and companies fast-forward their journey to becoming fully digital.”
The proof-of-concept was developed in collaboration with DocuSign Labs, which unites talent from DocuSign’s innovation hubs around the world, together with strategic partners such as Visa, to improve the way technology enables everyday transactions to be 100 percent digital and keep life and business moving forward. Visa is a DocuSign customer and strategic investor, helping fuel DocuSign’s rapid expansion to new countries, companies and customers.