A digitilized mobile business for Volvo's finance bank.


Smarter payment by mobile phone

Together with Volvofinans Bank, HiQ has developed CarPay – an app that makes it easier for customers to keep a check on their car finances. Previously all costs and offers linked to Volvofinans Bank were collated on a paper invoice and sent to customers through the post every month.

CarPay gives owners complete control of all the costs and benefits concerning their cars directly via their mobile phones. Customers can, for example, alter their car loans or receive offers on winter tyres when the cold weather starts to kick in. They can also pay garage bills direct from their phone and shop online in the webshop of car chain, Bilia. CarPay is already a modern, digital payment solution, but the app will be expanded in the future to offer even more services to make car finances simpler.

Conny Bergström, CEO, Volvofinans Bank




Technology + people + business

In recent years, completely new digital payment solutions have been launched worldwide. Cash and debit cards are being used less and less. Volvofinans Bank is Sweden’s largest bank specialising in cars and wants to be able to offer its customers up-to-date, flexible car finance services. HiQ was given the task of developing the bank’s offer for a digital future.


How do customers want to take care of their payments in the future?

Together with Volvofinans Bank, HiQ had the aim of using new technology and its knowledge of consumer needs to make it simpler for people to own cars while also developing sales. The strategic work began with HiQ Service Safaris. Here we used exclusive methods to familiarise ourselves with the experience of being a Volvofinans Bank customer. Workshops and in-depth interviews with Volvofinans Bank and dealers are two examples.

This strategic work was vital in order to gain answers to questions such as: What is life as a car owner like? How does the interaction between car owners and Volvofinans Bank work? How can we make the best use of technology to simplify things for customers? What hidden needs do customers have that they aren’t aware of today? How would we be able to make life simpler if the right solution was developed? With this new-found knowledge, business development experts at HiQ and Volvofinans Bank were able to create an innovation plan and ideas for a new digital offer.


A new digital offer

When CarPay was launched, it became possible for customers to have an overview of their transactions and balances, alter their credit limit, take advantage of current offers and use any bonuses earned when paying – all directly via their mobile phones. CarPay also provides an overview of savings accounts, loans and leasing. Despite tight timescales, we worked with Volvofinans Bank to create a solution while also supplying a new digital offer to make things simpler for more than a million car owners. After just three months, 140,000 customers had downloaded CarPay. The app is constantly evolving and new services are planned. For example, geographically-based offers that are activated when customers drive into a garage to refuel, or a reminder from CarPay to make an appointment to have their tyres changed when they drive past a tyre fitting centre.

The cashless society
HiQ is spearheading the development of smart digital services for the cashless society. Through smartphone payment solutions developed with customers such as Västtrafik, Volvofinans Bank and Bankgirot we are driving this development forward. With our understanding of technology, people and business we are making payment processes simpler for millions of people and helping to create healthy and white economies.

Anna Lantz

Get in touch

Anna Lantz
HiQ Gothenburg
+46 (0)70-550 57 09