ZIONSVILLE, Ind.--(BUSINESS WIRE)--Rahal Letterman Lanigan Racing (RLL) announced today that Car IQ Inc., a leading innovator in vehicle payment solutions, will be the “Official Autonomous Payment Platform” of the team and an associate sponsor on the team’s No. 15 Honda-powered entry for Graham Rahal during the 2024 NTT INDYCAR SERIES season.
San Francisco-based, Car IQ Inc., enables commercial fleet vehicles to connect directly to merchants and banks and pay without a credit card. The cutting-edge platform utilizes vehicle and payment data to create a one-touch payment experience directly from a driver’s phone.
“We’re thrilled Rahal Letterman Lanigan Racing has chosen Car IQ as their official payment partner,” said Sterling Pratz, CEO and Founder of Car IQ Inc. “Using Car IQ, RLL will now be able to connect their race transporters to fuel stations across the country as they travel from race to race. The team wanted to get rid of their previous card program and move towards a more innovative payment solution that eliminated plastic fuel cards and saved them money.”
Eliminating the card was only half the problem. RLL also wanted to take advantage of Car IQ’s payment technology to eliminate the manual collection of receipts and invoices and instead capture all of their vehicle transactions digitally. Additionally, Car IQ uses vehicle data to measure the fuel tank before and after the transaction ensures there is zero risk misuse at any point in the payment process.
“Knowing how much fuel is in your vehicle is one of the most important things a driver needs to know during a race,” said Graham Rahal. “Car IQ Inc. has developed an integral technology that will allow our team to take a similar approach in business operations. As someone who has always been interested in how various businesses and industries operate, it’s easy to see the value and importance of technology like this. We are looking forward to working together to grow both of our businesses.”
The 2024 NTT INDYCAR SERIES season resumes with the Sonsio Grand Prix at the Indianapolis Motor Speedway road course, May 10-11. North America’s premier open-wheel series will crisscross the United States, including a stop for the 108th Indianapolis 500 on Sunday, May 26, before culminating in Nashville for the championship finale Sunday, Sept. 15. All on-track action can be seen on NBC or NBC’s Peacock Premium streaming service or USA Network. For more information about the series or team, visit www.indycar.com and www.rahal.com.
About Car IQ Inc.
Founded in 2017, Car IQ Inc. is revolutionizing the way fleets pay and reconcile payments by removing the credit card from the payment process. Using unique vehicle ID and data to automatically connect vehicles to merchants, Car IQ lets fleet drivers nationwide pay for fuel, toll management, parking, EV charging and more without the hassle of managing a fleet card program.
The revolutionary payment platform uses real-time vehicle data to provide back office and administrative teams 360-degree, 100-percent accurate oversight of all payments, helping to eliminate fraud, improve efficiency, and streamline the reconciliation process. For more information, visit www.cariqpay.com.
