Element Fleet Management has announced plans to acquire connected vehicle payments specialist Car IQ, adding digital payment capability to its broader fleet management and mobility platform.
Car IQ, based in San Francisco, has developed technology that enables a vehicle to initiate, authenticate and complete transactions directly with merchants. The approach is designed to remove the need for physical fuel cards, PINs and manual reconciliation processes.
Under the proposed acquisition, Car IQ will operate as a subsidiary of Element Mobility and support Element’s digital payments roadmap in the United States and Canada.
For fleet operators, Element said the integration could provide tighter spend controls, real-time visibility of transactions and lower exposure to payment fraud. It also positions vehicle data and payment data within the same fleet management environment.
“Digital payments is an important pillar of our Element Mobility strategy,” said Kobi Eisenberg, President, Element Mobility and Autofleet.
“It enhances our connected ecosystem and positions us to deliver a seamless, digital payments experience, enabling clients to operate more efficiently, streamline transactions, and unlock new opportunities across their mobility lifecycle.”
The deal combines Element’s fleet management scale and client relationships with Car IQ’s vehicle identity and payment technology. The companies say the combined platform will allow vehicles to transact for everyday services while creating additional operational data for fleet managers.
“Car IQ was built to enable vehicles to seamlessly interact with the physical world,” said Sterling Pratz, Founder and CEO of Car IQ.
“By joining Element, we can accelerate adoption and deliver a broader suite of payment capabilities to more fleets. Together, we will modernize how vehicles pay for everyday services and unlock new data-driven value for clients.”
Connected payments could have practical applications beyond fuel, including parking, tolls, maintenance and charging, although Element has not outlined which transaction types will be included first.
The transaction remains subject to customary closing conditions. Element said it expected the acquisition to close in December 2025, with Car IQ continuing to develop intelligent payments and connected-vehicle data solutions within Element Mobility.
