Visa is calling for a standardized payment system for Europe’s electric vehicle (EV) charging points that will allow drivers to pay with their chosen method.
As Business Review reported Wednesday (Feb. 2), the system would chiefly be based around the adoption of open-loop and interoperable payments.
“We believe the widespread adoption of electric vehicles is key to helping Europe meet its net zero targets,” said Charlotte Hogg, CEO of Visa in Europe. “Ensuring people can easily pay to charge their vehicles is essential if we want them to go electric. At the moment, this is not the case. We believe this must change so consumers have the choice they deserve.”
The report notes that there’s no widespread industry standard for payment acceptance at charging statements, which has created a system where Europeans consumer have no choice of payment method, or where they can’t charge their vehicle because they aren’t signed up for the right subscription service.
Visa says it will begin consulting with EV charging point manufacturers and other leaders in the industry to determine the barriers to a widespread acceptance of interoperable, contactless and digital payments for EV charging.
The payments giant said it has also become the first financial services firm to become a full member of the Charging Interface Initiative (CharIN), a group devoted to promoting global charging-related standards.
Read more: US Bank Ups Card Rewards for EV Charging
“Since we are reaching a tipping point for electric vehicle adoption, the need for a global standard to connect infrastructure and to provide a seamless experience for electric vehicle drivers has become more important than ever,” said Claas Bracklo, CharIN’s chairman.
“While CharIN has been working for many years now with OEMs, charger manufacturers, software and component suppliers, energy providers, utilities and many other stakeholders of the EV charging value chain, we recognize that also the ease and consistency of applicable payment methods are critical to a smooth customer experience,” Bracklo said.
Last month, U.S. Bank announced it had added new rewards for its business and consumer credit card users for gas station purchases to assist with EV charging. The company said that while many EV drivers charge their vehicles at home, charging stations are needed on longer trips.
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