Verra Mobility and Hertz expand technology partnership under renewed contract

Verra Mobility Corporation (NASDAQ: VRRM) has extended its technology partnership with Hertz, a major player in the global rental car industry, under a renewed contract agreement. The partnership, which includes tolling and title & registration services, reflects continued alignment between companies in delivering efficient mobility solutions to customers.

The renewed contract builds on a long-standing relationship between Verra Mobility and Hertz, with the companies having previously executed a three-year extension in January 2022 for tolling services. The updated agreement is expected to enhance operational efficiency for Hertz by leveraging Verra Mobility’s toll management and ancillary service platforms, including the recently launched AutoKinex™ Virtual Agent, which allows renters to complete key rental steps directly from the vehicle.

Verra Mobility’s toll management solutions are already in use across multiple European markets, including a recent partnership with Locauto Group in Italy, where the company provides frictionless electronic toll payment system for rental vehicles. These solutions are designed to streamline the rental experience by reducing wait times, improving compliance, and enabling seamless toll transactions across extensive road networks.

The expansion of Verra Mobility’s services under the renewed Hertz contract is part of the company’s broader strategy to integrate digital solutions into the rental car ecosystem. With the global rental car market projected to grow steadily, driven by increasing international travel and demand for contactless services, Verra Mobility’s technology is positioned to support evolving customer expectations.

The partnership also aligns with Verra Mobility’s financial performance, which has shown consistent growth in recent years. For 2021, the company reported revenue and Adjusted EBITDA that exceeded initial guidance, reflecting strong demand for its services across both commercial and government segments. As the company continues to expand its digital offerings, the renewed Hertz contract underscores its role in shaping the future of smart mobility.