Mastercard and Last Mile Solutions Innovate EV Charging Terminal Payments

In a world increasingly focused on sustainable transportation, the shift towards electric vehicles (EVs) is gaining momentum, according to The Fintech Times. However, despite ambitious goals set by many nations to replace petrol cars with EVs, several challenges remain, particularly concerning the ease of payment at charging terminals.

To address these challenges, Mastercard, a global leader in payment technology, has partnered with Last Mile Solutions, a provider of EV charging and smart energy management platforms. This collaboration aims to revolutionize the payment experience for EV drivers and charge point operators (CPOs).

The innovative solution introduced by Mastercard enables CPOs to seamlessly integrate various payment terminal brands with existing EV charging stations. This integration eliminates the need for extensive technical efforts, streamlining the process for both operators and consumers. George Simon, Executive Vice President of Market Development Europe at Mastercard, emphasizes the significance of such partnerships in facilitating the transition to electric mobility. He states, «The transition to the mass adoption of electric mobility is key to building a more sustainable world… partnerships like these… make the transition as seamless as possible.»

By simplifying payment processes and enhancing user experience, Mastercard and Last Mile Solutions aim to accelerate the adoption of EVs across Europe. This collaboration addresses existing barriers and ensures interoperable and universal payment solutions for EV drivers.

Moreover, the timing of this initiative aligns with the impending EU AFIR regulation, set to take effect in April 2024. The solution will be rolled out across Europe, enabling CPOs to comply with the regulation seamlessly.

Eric van Voorden, CEO of Last Mile Solutions, highlights the strategic importance of this partnership in driving EV adoption. He comments, «In the dynamic world of payment systems and electric vehicle charging, this strategic partnership… will accelerate a seamless electric vehicle adoption.»

The collaboration between Mastercard and Last Mile Solutions represents a significant step towards making EV charging more accessible and convenient. By addressing payment pain points, they contribute to the realization of a sustainable transportation ecosystem.