TOKYO — Japanese trading house Sumitomo Corp. is entering the growing market for in-vehicle payments, partnering with the U.K.’s Vodafone to launch a SIM card-based service this year, Nikkei has learned.
Sumitomo will acquire a 20% stake in Vodafone payment platform subsidiary DABCO, with plans to jointly start a service to add payment functions to cars in the U.K. and Germany.