"We have 100 million addressable users".

The mobility start-up Ryd is focusing on cooperation instead of going it alone. In an interview, CEO Sandra Dax talks about the plans.

Ryd is the name of the start-up that wants to abolish payment at the gas station counter. But abolish would be wrong: they want to digitalize it. Customers will be able to use the start-up's app to pay their fuel bill directly from their car, without having to go to the shop. Mastercard and BP believe in this idea. This is probably also due to the start-up's unusual strategy.

Ms. Dax, gas stations make a good portion of their margin in the shop. They want to prevent people from leaving the car. Are you making enemies?

No, the opposite is the case. The gas station owners are our partners and therefore our friends. Yes, we want people to stop going into the petrol station just for the payment process. But we've done studies and they clearly show that sales in a gas station store don't go down just because people use our app. Our gas station partners confirm that. Those who want to buy something still go to the shop, but the rest no longer have to wait in line. Thanks to our data, we can also see when which gas station is full and recommend users a different time, for example.

How many users have you been able to convince so far?

We have 100 million addressable users.

That sounds like a gigantic number. But what does "addressable" mean in this case?

On the one hand, drivers can pay with Ryd via our own Ryd app. On the other hand, Ryd can also be used via third-party providers. By integrating it into other apps, such as navigation devices, or as a means of payment for in-car payments via the car's infotainment system, we, together with our partners, reach over 100 million users.

So in a way you are competing with yourself. Why did you decide to go this route?

Currently, the majority of our users still come through the app and pay there. But that's shifting right now because we're being integrated into other apps, such as bp and also Lidl. There, people use our service directly in the environment and don't need to download an app. We then earn on every transaction that goes through us.

The margins for payment service providers are extremely low. What is What are your margins?

I'm afraid I can't answer that. The margins are exactly as you describe. It comes down to volume.

You want to grow by integrating with other apps. Don't worry about them kick you out at a certain point and offer the same service?

No.

We are currently in a partnership with Mercedes-Benz, but that doesn't mean other car brands can't come in

Sandra Dax, Ryd boss

Why not?

We've gained a lot of experience over the past few years and I don't think you can catch up that quickly. Our partners appreciate that we offer an open ecosystem, so they will stick with it.

What do you mean by this open ecosystem?

It means that we are not exclusive to any company. We are currently in a partnership with Mercedes-Benz, but that doesn't mean other car brands can't join. The same applies to bp service stations: we have them listed, of course, but also other service stations in seven countries. It is precisely this open character that we want to offer our customers.

They don't just want to score points at the filling station, but also when it comes to washing their cars and, of course, electric cars. There is ...quite a bit of controversy about.., about how you're going to pay at the charging station of the future. Why do you think that Ryd, of all companies, will prevail?

We have the advantage that, with bp as a strategic partner, we already have a large provider of filling stations at which e-charging stations will also be normal in the future. We will also approach this area with our partnership-based approach. We are currently talking to a major provider, but that is still a secret.

Where do you see the future of payment at the gas station?

Quite clearly in in-car payment. This means that users don't even need an app, but pay directly via the car. We are currently talking to OEMs, i.e. manufacturers of parts, about this. But I'm not allowed to say what's currently being negotiated. But I also believe that the entire market is much bigger. In addition to refueling and recharging, there is also washing and parking. We also want to offer added value in these areas through additional services, for example by letting them know in good time when the tank is empty and there is an inexpensive filling station nearby.

Of course, they collect a lot of data in the process.

We only collect the data we need for this and use it anonymously, of course. The user also has to agree beforehand which data he gives to us and for which purposes. We are completely transparent in this respect.

Thank you very much for the interview.

Personal details: Sandra Dax, 43, has been CEO of Ryd since April 2021. She previously worked in the automotive industry for 20 years, including at BMW. Most recently, she was Global Vice President for SAP in Business Development.