Combining Open & Closed Loop Payment
- cVEND terminals for EV charging
- Contactless payment
- Easy and secure usability
- Open and closed loop payment options
The market for electric vehicles is fast growing. EV market unit sales are expected to reach approximately 5.55 million vehicles by 2027. The European Alternative Fuels Infrastructure Regulation (AFIR) is currently finalizing mandatory deployment targets for EV charging and infrastructure. The Charging Station Ordinance (LSV) in Germany mandates that EV charging stations must offer open loop payment options by July 1st 2024. Staying ahead of the curve, FEIG ELECTRONIC’s cVEND payment terminals already support both open and closed loop payment.
28 Mar 2024 - FEIG Readers in Use at Toro Aluminum Group of Companies
Payment Made Possible Anywhere at Anytime
With the growth in the EV market, governments are now seeing the payment process as an important criterion. “Research shows that apps and charging cards are unpopular payment methods as they are costly, non-transparent and have limited range and usability,” says Frank Edunjobi, Senior Project Manager Payment at FEIG ELECTRONIC. “The strong increase in EV sales also make it clear that payment solutions had to be improved. The customer should be able to pay anytime, anywhere, and without having to download an app or sign a contract”. The perfect solution: FEIG’s cVEND payment terminals.
The Best of Both Worlds
Payment terminals from FEIG not only support open loop debit and credit cards, but also closed loop charging cards issued by providers like EnBW, ADAC, DKV and UTA. The result: easy customer usability, including a cost reduction, additional reach and revenue for the Charge Point Operator (CPO), as only one interface is used. The cVEND PIN covers the basic conditions of the LSV, combined with a PIN entry payment option. FEIG also offers fully contactless terminals like the cVEND plug and cVEND box+.
Easy Usability, Satisfied Customer
How does the EV payment solution work with FEIG’s terminals? The customer selects a charging point at the charging station and presents a debit, credit or charging card to the terminal. If necessary, a PIN is entered. The customer then plugs in the charging cable. After the vehicle has been charged, the customer unlocks the charging cable and continues their journey. No further machine interaction is necessary. “Similar to unmanned gas stations, the final payment amount is booked after the charging process is completed. Payment is made easy and customers are satisfied,” says Edunjobi.
