Driving Change: How Open Banking Transformed Payments for Car-Sharing

Woop Drive is a fast-growing car-sharing platform in Vilnius, connecting both private car owners and professional rental companies with users seeking affordable, flexible rentals.

Unlike purely peer-to-peer platforms, Woop Drive partners with professional rental companies that import fleet vehicles specifically for integration, turning them into floating car-sharing units. This approach expands availability and enhances the efficiency of shared mobility.

Strengthening its market position, Woop Drive has been chosen by Enterprise, the world’s largest car rental company, as a key partner for car-sharing services in the Baltics.

Additionally, Woop Drive offers a discount fuel card, providing access to exclusive fuel prices at 30,000 fuel stations across Europe, helping both individual owners and fleet operators reduce costs.

What Woop Drive Needed

When Woop Drive partnered with Noda, they needed a payment solution that could keep up with their fast-growing car-sharing platform — one that addressed the real-world challenges their users faced daily.

• Dual payment flows: Renters expect a seamless checkout, but failed transactions can lead to frustration and lost bookings. At the same time, car owners rely on timely payouts. Woop Drive needed a system that could collect payments instantly and ensure fast, reliable payouts.
• Smooth UX: With users switching between the mobile app and website, the payment experience had to be frictionless—any delay could mean a lost rental.
• Real-time payments: In car-sharing, speed is everything. Renters don’t want to wait for payments to process—they want to pay, unlock, and drive within seconds.
• Scaling beyond Lithuania: Woop Drive is expanding fast. They needed a payment partner that could grow with them, supporting local payment methods across multiple EU countries without added complexity.

How Noda Helped

By integrating Pay-by-Bank into their mobile app and website, Woop Drive customers now spend less time on admin and more time on the road. This led to 1,5 minutes saved per order, a 18% increase in bookings, and a 32% drop in abandoned orders.

As Woop Drive scales beyond Lithuania, seamless cross-border payments are key to its success. With Noda, the platform now enables effortless transactions across 28 countries, supporting international users without added complexity. Noda’s integration with over 3,000 banks, including leading financial institutions like SEB, Revolut, and Swedbank, ensures broad accessibility for users across Europe. This allows renters to pay directly from their bank accounts, eliminating the need for cards and reducing transaction failures.

Pay-by-Bank is a highly secure payment method, which was another priority for Woop Drive. Open banking, which is the basis of Pay-by-Bank, is regulated under PSD2 in the EU and protected by strong customer authentication (SCA). Since customers approve payments directly within their banking interface, they benefit from an extra layer of bank-level security.

By switching to Pay-by-Bank, Woop Drive reduced transaction fees by 90%, significantly lowering costs compared to traditional payment methods. This allows both private and professional fleet owners to maximize their earnings while offering more competitive rental rates.

Beyond private car owners, Woop Drive is increasingly used by professional fleet operators who integrate their vehicles into the platform for seamless monetization. Many rental companies now rely on Woop Drive to maximize fleet utilization and generate additional revenue through short-term car-sharing.

Why Fast, Secure Payments Matter for Car-Sharing

Car-sharing platforms are a new kind of business, growing fast with the tech boom over the last decade. They work like a service-based marketplace, connecting people who need a car with owners who want to rent theirs out. This is part of the sharing economy, where people share resources instead of owning everything themselves.

In the sharing economy, real-time payments keep things moving, but traditional methods can take days – causing delays in a service that thrives on speed. On average in online payments, 22% of users abandon their orders due to slow or complicated checkouts, and that number climbs when payment options are limited or trust is low.

Therefore, for car-sharing platforms Noda can offer the following benefits: 

• Instant payments: Our open banking payments and payouts are smooth and real-time.
• Superior UX at checkout: Users don’t need to insert payment details manually. They are directed to their trusted bank’s interface (mobile or web) to authorise and complete the payment.
• Lower costs: Open banking removes card and chargeback fees, which saves merchant’s and customers’ money.

For car-sharing businesses, this means smoother operations, fewer abandoned orders, and more happy drivers on the road.

Stay tuned! This is just the beginning — more news and exciting joint promotions from Woop Drive and Noda are on the way. Expect exclusive discounts, referral bonuses, and special rewards for users who pay with Noda. Not only will these be interesting to follow, but you'll also have the chance to participate and benefit.

Interested in learning how Woop Drive’s seamless payments are fueling growth? Get in touch or try the app today!