Turning gas pumps into intelligent kiosks that drive revenue
Next time you’re at the pump, keep your wallet in your pocket, and get ready to do more than just pump gas. At least, that’s what the future is soon to look like with Verdeva’s groundbreaking Efficient Vehicle Assessor (EVA)™.
EVA piggybacks off of toll transponders, the near ubiquitous system people use to fly through toll booths without stopping to cobble together quarters between seat cushions. These transponders are a proven method to save time and make transportation easier.
Just as toll transponders make toll payments an afterthought and mobile payment systems like Apple Pay™ make payment easy wherever you are, when you connect cloud-based payments to consumer Internet Of Things (IOT), the options are essentially endless. Gas stations can send you personalized deals currently going on in the store. And gas stations are just the beginning; EVA makes refueling the hub for all things automotive (a giant idea, by itself), and extends that vision far beyond personal vehicle-related payments.
And it’s not just consumers that love EVA — with Verdeva’s unique “no-cost-kiosk” business model, gas stations implementing our system and content marketers trying to reach their ideal client incur no charge for installation or maintenance of the system! It’s a win-win scenario!
In fall 2016, we are launching a pilot program using our EVA prototype to provide the customer acceptance and market validation needed to move forward with our revolutionary ideas.
Refueling is about to get a whole lot easier. Read on to see how it works!
Why will consumers love refueling with EVA? Because it’s quicker, safer, cheaper, and personalized.
If you drive a car you gas it up 60 times a year. It’s a pain. It’s time consuming, it’s out of the way, it’s no fun constantly pulling out your credit card and watching your money tick away. And pumping gas is not going away anytime soon (see our FAQ, below.)
So forget about pulling out your wallet or purse, finding and swiping the card, punching in your zip code, waiting for authorization, watching the pump pump, waiting for payment to complete, waiting for receipts, 60 times a year.
EVA makes refueling quicker and easier by pre-authorizing the pump, automating payment processing, and delivering e-receipts. EVA saves you more time by letting you do relevant transactions on your phone or on the dispenser while refueling, eliminating time you otherwise spend online at home or at another place of business.
Credit card theft is a major problem. Card skimmers’ favorite target is gas pumps, and more credit card fraud happens at the gas-pump than any other location. Think about how many times you swipe your card every day. How many times you punch in pin numbers. How many times the cashier (if there is one) doesn’t ask to see your ID. Stealing someone’s credit card is easy.
Making it harder is automated payment systems like Apple Pay and EVA. You enter your credit card number just once in a secure online portal and that’s it — never take out your card again.
EVA’s multi-factor authentication is better and stronger than anything available to retail sales today. EVA knows you, your car, and your phone — and most importantly, when they are all present together. If all three aren’t present, EVA knows not to allow certain transactions. Even better, EVA knows when relevant transactions can be authorized with a one-touch “OK.” This gives you peace of mind and confidence to “just say yes” to the personalized transactions while refueling.
EVA lets you pay for gas with cheaper options (like bank debit cards, prepaid options, or cents-off tied to affinity programs), and gives gas stations and content marketers a directly addressable repeat impression to offer you personalized product and service savings.
Not only does Verdeva makes refueling faster, cheaper, and safer, it turns it into a connected, personalized experience.
Imagine: you pull up to the pump, your toll transponder is recognized and you can automatically begin refueling. While you wait, personalized deals pop up on the pump screen and your smartphone. EVA recognizes your enrolled vehicle and will tell you when your inspection is due, or even allow you to renew your registration or license with a simple “OK.” EVA can remind you when your car’s wipers or tires go on sale, give you a discounted oil change, get you insurance discounts, tell you when food you like is on sale inside the c-store, and so much more. It’s about you, and the things you do and can do with your car.
In addition to the consumer benefits, EVA makes the lives of gas station owners, marketing firms, and policy makers so much easier as well.
Gas Station Benefits
Gas stations are a very low-margin business. Pumps/dispensers are expensive and underutilized. By offering personalized retail suggestions, EVA has the potential to boost retailer profits by as much as 200%! With EVA, retailers develop new revenue streams, adding thousands of dollars to their bottom line, and strengthen affinity programs with products and services never before possible.
Marketing content providers are always looking for new channels to reach their target customers. 60 times per year, EVA’s powerful IOT solution connects directly to the consumer and knows exactly who is receiving your message. Through this interface, marketers can truly personalize offers with relevant calls to action. Marketers can increase click-through and capture rates dramatically. As a mobile payment / consumer IOT platform that’s able to offer personalized deals using consumer data, EVA encourages additional purchases like no other service. And the incremental cost per impression is near zero. 260 million vehicles refueling 60 times per year. Think about it.
EVA uniquely leverages toll transponders for vehicle ID solutions in a non-invasive way.
Verdeva has already negotiated a draft agreement with representatives of multiple states to co-market to an existing membership of over 30 million vehicles, and to use toll transponders for much more than paying tolls.
EVA also gives policymakers a wide range of tools to address high priorities:
To sum it all up: EVA is the only non-privacy-invading, at-the-pump vehicle ID transaction solution, offering mobile pay-at-the-pump, plus addressable content marketing. EVA connects the gas pump to the cloud to create a consumer-friendly kiosk experience that gives the motorist simple, secure, personalized transactions while refueling, and also turns the pump into a revenue-driving profit source for the retailer and participating content marketers!
Refueling your car with mobile payments is the core of EVA, but uses extend far beyond pumping gas. All of the following scenarios could be possible with this technology:
Verdeva has the potential to accomplish just about any type of vehicle related payment.
As a leading industry analyst said…
Verdeva has invested years in establishing partnerships that collectively dominate the space for vehicle-ID, petro mobile payment, and consumer IOT. This is a key barrier to entry for potential competitors.
The most notable partnership is our unprecedented draft agreement with multiple states to co-market to the owners of over 30 million vehicles to use their toll transponders for much more than paying tolls. This is another huge barrier to entry for the competition.
These partnerships demonstrate how Verdeva is much further along than the usual seed-stage startup. Further, we have established partnerships with major fuel retail chains and two large auto insurance providers, giving Verdeva a tremendous advantage in this marketplace.
Finally, we have assembled a blue-chip technical team to develop and operate EVA as a world-class solution:
You might be asking…
- “Isn’t this like those old attempts to use RFID at the pump?”
- “Aren’t PayPal, Apple-Pay, and Android-Pay going to dominate mobile payments?”
- “Isn’t E-ZPass yesterday’s technology – can’t you do all this with a cell phone?”
- “Will retailers really install this? Do consumers really want a kiosk at the pump?”
- “Aren’t gas stations going to be eliminated by electric cars or on-demand gas delivery?”
One answer, more on our FAQ:
EVA actually works for electric vehicles (EVs) too, even though they are just 0.08% (that’s less than one-tenth of a percent, 200K out of 260MM) of currently registered vehicles, and even though EVs won’t hit 4% until 2040. Between now and 2040 there will be over 380 billion gas-based personal vehicle refuelings in the U.S. alone. In that time, at 4 minutes per refueling, U.S. consumers will spend almost 3 million person-years pumping gas! And pumping gas will continue well beyond 2040.
Read more on our FAQ page: www.verdevainc.com/faq
This funding will allow us to launch this fall in a handful of locations across New England and the Mid-Atlantic with plans to roll out to 1,600 locations with our current gas-station partners over the next few years. We’re starting in the Northeast for initial testing because toll transponders are well established in that region. The simple fact that we were able to land such deals with our retail partners without even having a live product is a true testament to the clear impact EVA will have on our target consumer and petro customers.
We see this as a conservative plan, given the above prospect of 1,600 locations with our pre-sales partners.
Make sure to request access to the business plan tab of this profile for an inside look into Verdeva!
Kevin Condon, Founder & CEO
Kevin has extensive experience growing small and large firms in IT solutions, technical data, and technical media. His experience includes growing startups, product launches, aggressive revenue growth, rapid turnarounds, mergers/acquisitions, and capital formation. Earlier projects have included management of the project creating the first digital global database of hotels for Expedia.com (partnership with Microsoft); managing a company that specialized in developing transportation databases for the US DOT; launching the Retail Data Security Conference; publishing the first technical publication covering computer graphics, and the first publication (HyperMedia) covering the Internet; and managing a data company with data from more than 40 industry segments. He was chief operating officer of Reed Elsevier’s Entertainment / Media / Communications division and ran the operations for the launch of Variety Gotham, a media outlet in New York City. Politically active in New York during a nationally covered desegregation crisis, he was described by the press as instrumental in the negotiations of an affordable housing solution that was the basis for the plan later approved by federal courts. He also helped lead successful efforts to change the form of Yonkers’ city government via a city charter revision, and helped lead a successful political reform effort.
Nick Chandler, Co-Founder & CTO
Nick is an accomplished IT services and software executive with deep public and private sector experience. Nick brings hands-on perspective and creative approaches to consumer solutions and public / private partnerships. Nick has extensive R&D, COO, and CFO experience in IT startups and systems integrators, and leadership of multi-year, large-scale, international integration initiatives. He led the development of the world’s first global commercial real estate exchange, helped Massachusetts Registry of Motor Vehicles improve branch capacity by 30% by automating online customer and vehicle policies, and helped the Massachusetts Connector launch the nation’s first Health Insurance Exchange.
Kevin McKelvey, VP Sales
Kevin is a high performance sales executive with proven success in the productivity software and mobile application industries. He is the recipient of numerous sales “Performer of the Year” awards, and has received consistent recognition as a team leader in various business expansion roles. He also has startup experience with Groove Mobile, Rednote, and LiveWire Mobile Music, and enterprise sales and channel development experience at Lotus/IBM, Microsoft, and RSA Security.
John Condon, Director of Research
John is responsible for research in transportation funding, environmental issues related to transportation, municipal finance, and the retail refueling industry. John also serves as the volunteer editor of the Mileage-Based User Fee Alliance newsletter. He was a recent speaker at a leading tech conference for independent insurance agents to present EVA as a usage-based insurance solution that doesn’t require tracking vehicles.
Bill Williamson, Director of Development
Bill leads our Dev-Ops team including both Boston-based and off-shore capacity. He is a veteran of complex IT management and delivery in software development, enterprise IT, business development, and customer service. A passionate and experienced developer, manager and architect, Bill has repeated success developing and selling software and services in a broad variety of industries including government, healthcare, computer, semiconductor, finance, and retail. Amongst his most relevant capabilities are developing, acquiring and deploying IT solutions to integrate business processes, applications and information across and beyond the enterprise.
Chris Dibbs, Lead Developer
Chris is an application developer with deep experience designing and implementing applications that streamline processes and visualize vast amounts of data. He brings pride and passion to his work and consistently strives to understand the processes that his solutions are intended to support. Chris has worked as Scrum Master and Lead Developer, and in 6 months, built an RFID based asset management application tailored to work directly with the existing defense databases.