Pay By Car

PayByCar selected by DCU as FinTech Innovator

By June 25, 2018 2 Comments

PAYBYCAR™ SELECTED INTO DCU FINTECH INNOVATION CENTER

SUMMER COHORT 2018

PayByCar will work, learn and collaborate in Innovation Center in downtown Boston

BOSTON, MA – (June 25, 2018) PayByCar, the in-vehicle payment innovator, has been selected as one of ten new early-stage ventures in the DCU FinTech Innovation Center (the “Center”) summer class of 2018.  The not-for-profit Center, fully funded by Digital Federal Credit Union, better known as DCU, is dedicated to accelerating the development of new FinTech products and driving the local FinTech ecosystem and banking industry forward.

The Center accepts seed-stage FinTech startups such as PayByCar in the product market fit stage and provides them with everything they need for go-to-market success: a professional network and community, mentorship, as well as one year of free space at the Center, located in Boston’s financial hub near South Station. There is neither a cash nor equity payment required from any participating company.

“We are thrilled to be recognized as a FinTech innovator by DCU,” says Anand Raman, President and COO, “PayByCar makes paying for good and services when you are with your car invisible, easy and safe, bringing a great customer experience and boosting sales for retailers as well as innovative FinTech leaders like DCU.  We appreciate the terrific community and resources provided by the Center.”

“We are very excited to welcome PayByCar to the Center and deepening the Center’s support of the growing FinTech community in Boston,” says Vasilios Roussos, managing director of the Center.   The depth of talent and technology of this latest cohort is incredibly impressive and reinforces the fact that Boston is truly developing into a FinTech innovation leader.  We look forward to working with PayByCar in the coming year and helping them find broader commercial success.”

Acceptance into the Center recognizes PayByCar as one of Boston’s future FinTech leaders. Since its launch as the DCU FinTech Innovation Center, the Center has housed a number of Boston’s most promising FinTech startups that have been recognized, awarded by, and partnered with the nation’s leading innovation, startup, and financial institutions.

For the complete list of winners and other information please visit the DCU FinTech Innovation Center website at www.dcufintech.org

About PayByCar

PayByCar makes it easier and safer to pay drive-up retailers, and gives retailers new ways to reach each customer personally. Using toll transponders that drivers already trust and use every day, and any e-wallet the customer prefers, PayByCar eliminates payment hassles and boosts retailer sales – without requiring an app!  Our unprecedented agreement with E-ZPass®, trusted in over 35 million US vehicles, gives consumers confidence to “PayByCar.”     

About the DCU FinTech Innovation Center

The DCU FinTech Innovation Center is the leading sponsor of FinTech startups in Boston and is dedicated to fostering FinTech startups and the Boston FinTech community. The Center focuses on helping startups gain initial customer traction and provides seed-stage FinTech startups with one year of free mentorship, workspace, community and a professional network. The Center is fully funded by DCU, supported by DCU executives, and is operated in partnership with Workbar.

For additional information, visit www.dcufintech.org.

About DCU

DCU is a not-for-profit financial cooperative based in Massachusetts that serves over 700,000 members across all 50 states. DCU offers a full range of financial services to consumers and businesses, including banking, lending, financial management, insurance and realty.

For additional information, visit www.dcu.org.

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