A universal solution for the electric vehicle revolution

That revolution is currently being hampered by a confusing jumble of chargers supplied by third-party firms, with users sometimes requiring a wallet stacked with membership cards to ensure their ability to charge their vehicle when required.

Tel Aviv-based EV Meter, a subsidiary of cashless payment solution provider Nayax, is hoping to ensure the future of electric vehicles by replacing the typically closed charging systems with a Level 2 universal charging solution.

“With EV Meter charging stations, you don’t need to have a wallet of membership cards,” Niso Hazan, general manager of EV Meter, told The Jerusalem Post. “You simply park, swipe your credit card, fill your car and carry on. There’s no hassle.”

 

 

 

EV Meter’s range of US and EU-compatible Level 2 universal chargers are the first to enable open, cashless payment by relying on Nayax’s existing payment terminal system, integrated to work with more than 30 banks worldwide.

“This is a unique product that nobody has engineered yet, with open loop payment systems and no need to be early-registered. This device can accept all sorts of payments, including credit cards and wallet pay applications,” Hazan said.

The company is on course to take advantage of the combination of two trends in the coming years: the increase in contactless payments and electric vehicle purchases. According to a recent report by technology market specialist Juniper Research, more than half of all point of sale (POS) purchases are expected to be contactless by 2022.

In the case of electric vehicles, the International Energy Agency estimates that the world’s fleet will grow from approximately four million today to 125 million by 2030.

“No other company benefits from the financial infrastructure, built over 15 years, that stands behind EV Meter,” said Hazan. “We have lots of experience in the payment, service, back-end and monitoring services, and teams that know how to react to all scenarios. That’s our uniqueness.”

EV Meter’s channel to market is simplified by relying on Nayax’s wide-ranging distribution network, working with 12 distribution and subsidiary companies operating in more than 65 countries. Its charging stations are already in operation in North America, Czech Republic and Poland.

Closer to home, the company hopes to take advantage of Israel’s own electric vehicle revolution.

In October, the Energy Ministry launched its plan to reduce the use of polluting fuel products by 2030, including a complete ban on the import of vehicles powered by polluting fuels. All new vehicles in Israel will be powered by electricity and compressed natural gas, requiring the construction of thousands of electric charging stations.