The Open-Loop Leap: Embracing Digital Receipts in the EU's EV Charging Revolution
Dec 8, 2023
The European Union, in a bold move to accelerate the shift to electric vehicles (EVs), is mandating the installation of more EV charging stations, set to appear every 60 km along major transport corridors. This initiative is a key element of the EU's Fit for 55 in 2030 package, aimed at cutting greenhouse gas emissions by 55% by 2030.
These new regulations are poised to tackle two major hurdles in EV adoption: range anxiety and the inconvenience of closed-loop charging payments. Range anxiety, the fear of running out of battery power without access to a charging station, has been a significant barrier for many potential EV users. The increased density of charging stations will greatly alleviate this concern, making EVs a more viable option for longer journeys and road trips.
The introduction of universal contactless bank card payment options at these stations is another transformative aspect of the EU's strategy. This open-loop payment system will allow EV drivers to use any charging station on any network without the need for prior app downloads or online registrations. This ease of use is expected to make the experience of recharging an EV as straightforward as refuelling a petrol car, further incentivizing drivers to switch to electric.
The benefits of these changes are manifold. For EV drivers, the convenience of open-loop payments and the reduced anxiety about finding a charging station will make electric vehicles a more attractive and practical choice. For the environment, increased adoption of EVs means a significant reduction in the pollution and greenhouse gas emissions associated with traditional petrol and diesel vehicles.
Below are some other regulation initiatives that are taking place in 55% of major EV markets:
Source: EV Charging Payments, White Paper by Mastercard, June 2023
However, with these advancements, the need for a streamlined post-purchase experience becomes evident. This is where digital receipt solutions like those offered by ReceiptHero become essential. In a world where sustainability is key, and many Charging Point Operators (CPOs) are retrofitting payment terminals to existing chargers, the addition of paper receipt printers would be counterintuitive. ReceiptHero addresses this by providing a range of options for customers to receive their digital receipts - whether it be via a QR code on the charger, card-linked to an integrated application, or through a portal where receipts can be retrieved up to three years later.
By ensuring the widespread availability of charging stations and easy payment options, the EU is not only promoting the adoption of electric vehicles but also paving the way for a greener, more environmentally friendly future. The integration of digital receipt solutions like ReceiptHero further enhances this vision, offering a seamless, modern, and eco-friendly solution for EV charging.
Are you a CPO searching for a digital receipt solution ahead of the new EU regulation? Reach out to the team to find out how we can support your business. Contact Us