Business Fintech News

Xevo and REEF Technology Team Up to Offer Contactless Parking Payments

Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced its Xevo software business has partnered with REEF Technology to allow consumers to find, reserve and pay for parking spaces from their in-vehicle touchscreen.

Integrating REEF with the award-winning Xevo Market cloud-based technology, which is already live in millions of vehicles today, eliminates the need to collect a receipt or push a button on a parking lot ticket machine, avoiding contact with often-touched surfaces during these times of social distancing.

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REEF is the largest operator of parking lots and neighborhood hubs in North America with more than 4,500 off-street parking sites in the U.S. and Canada and additional locations in Europe. It is also actively transforming underutilized urban spaces into neighborhood hubs that connect people to locally-curated goods, services and experiences.

Xevo Market enables ordering with popular brands, including gas stations and restaurants, via the in-vehicle touchscreen, completing transactions and taking advantage of services while on the go.

“Xevo strives to help automotive OEMs deliver the most advanced connected-car experience possible, so we are thrilled to be working with REEF. It gives our OEM customers, and consumers, access to more robust parking and vehicle-related services that offer a little extra peace of mind,” said John Absmeier, Lear’s Chief Technology Officer.

“Our mission at REEF is to connect the world to your block by taking underused urban spaces, such as parking lots, and use that real estate to connect neighborhoods to the goods, services, and experiences they need to thrive,” said George Fallica, REEF Chief Revenue Officer. “By partnering with Xevo, we are able to take another step in realizing our vision by not only offering a safe and seamless way to find and pay for parking, but also through the unlimited potential of the in-vehicle services they can offer.”

In the future, REEF and Xevo hope to allow owners of Xevo Market-equipped vehicles to take advantage of additional in-vehicle services, including refueling, electric vehicle charging, and food and package delivery into vehicles. Routine vehicle maintenance, tire replacement, and even detailing could also be available while the vehicle is parked. Deep integration with the Xevo app will provide the option to complete these actions while away from the vehicle, saving people time and increasing efficiency by making it possible to do multiple things at once.

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