7-11-2024 4:20am

HUNT VALLEY'S NAYAX

Nayax Readies EV CloudPay for Burgeoning Electric Vehicle Charging Payments

Payments and commerce platform Nayax Ltd. is tapping the cloud to enable its EV CloudPay service designed for payments at electric-vehicle charging stations.

EV CloudPay enables motorists to pay for EV charging with a credit card, debit card, or mobile wallet via a physical payment-processing kiosk at charging stations. Israel-based Nayax, which has North American headquarters in Hunt Valley, Md., says the service relies on the kiosk and not point-of-sale terminals on each charger. The kiosk can accept more than 80 forms of cashless and digital payment methods. Nayax released a self-checkout kiosk for general retail merchants in 2022.

Though U.S. EV sales have slowed in the first quarter, according to automotive services and technology provider Cox Automotive Inc., the slump may be a blip as the segment continues to evolve. With that growth comes demand for EV charging stations. There are almost 65,000 U.S. charging stations, according to the U.S. Department of Energy as of July 1. The number of U.S. charge points —a charging station can have multiple points to connect—is forecasted by consulting firm PwC to grow from approximately 4 million now to an estimated 35 million in 2030.

“In order to accelerate the adoption of EVs worldwide, we need to provide drivers with a convenient charging experience, and that includes a seamless and fast way to pay for the charge,” Yair Nechmad, Nayax chief executive and chairman, says in a statement.

EV CloudPay uses the Open Charge Point Interface that enables standardized technology to make it easy for charging station operators to adopt and integrate with their charging station management systems, Nayax says. Its Nayax Energy division is releasing EV CloudPay.

Nayax recently acquired Retail Pro International, a point-of-sale technology provider.