The Idea Bank Group’s latest fintech project is Happy Miles, a pay-as-you-drive car leasing scheme for individuals and companies in Poland.
Seeing an opportunity to make the car rental industry more efficient and cost-effective, Poland’s Idea Bank Group recently introduced its Happy Miles service. Available to commercial organizations as well as individuals, Happy Miles lets drivers of leased vehicles pay for exactly what they drive (along with a small regular monthly fee).
The development team believes the new service will be of use to both small and large companies. Smaller businesses will more easily avoid cash flow problems, and larger firms, particularly those with a fleet of vehicles, should benefit from efficiency savings made in volume. The in-car GPS system sends monthly reports on how many kilometers were driven to the company that owns the vehicle. Payments are based on the distance driven at an agreed fee per kilometer, along with a small fixed monthly cost.
Transport’s huge environmental costs, combined with continued improvements in sharing economies, are prompting vast numbers of developments across the industry. In Germany, a crowdfunded, eco-friendly start-up is providing a new train service to rival Deutsche Bahn, and in London an architecture firm is seeking funding for their plans to move all city traffic below ground and with self-driving cars only. What incentives could encourage cities to speed up the development of carbon-neutral transport solutions?