ENGLEWOOD, Colo., May 04, 2022 (GLOBE NEWSWIRE) -- The market for Electric Vehicles (EV) has grown exponentially in recent years. Building on this momentum, the U.S. government promised $5 Billion in federal funds over five years to create a nationwide network of EV charging stations. The U.S. Payments Forum today announces the launch of its Electric Vehicle (EV) Open Payments Working Committee in response to these developments.
The new Working Committee aims to facilitate seamless and intuitive payment experiences for consumers across EV charging stations. The overarching goal is to accelerate the adoption of EV, EV technology innovations and successful charging networks that utilize open payments. Open payments can be defined as the acceptance of all open loop payment devices such as cards, mobile wallets and wearables, as well as all payment methods including credit, debit, prepaid and gift cards.
Forum members representing various parts of the payments ecosystem are encouraged to participate. The Forum is also inviting EV experts outside of the payments space to lend their expertise to Working Committee projects.
“We are thrilled to embark on this new journey into the rapidly expanding world of electric vehicles,” said Jason Bohrer, executive director of the U.S. Payments Forum. “Our hope is to ensure that the payments process does not become a hindrance or a deterrent to consumers who are interested in exploring the EV market and its environmental benefits. Beyond that, the EV Open Payments Working Committee hopes to benefit the greater EV industry through collaborative efforts to enhance EV technology and security.”
By creating white papers, webinars and various other deliverables the Working Committee will analyze and propose solutions to current challenges facing EV adoption in North America. Specifically, regarding new and existing EV charging infrastructure and its utilization by EV manufacturers, EV drivers and fleet operators.
The scope of the Working Committees’ duties include:
- Promoting Plug and Charge specifications as an open payment standard and/or traditional open payment acceptance
- Analyzing the challenges and requirements of EV charging infrastructure and EV manufacturers as it relates to payment processing
- Organizing research sessions and consultancy with various Charge Point Operators (CPO) and electric vehicle manufacturers
- Providing best practices and requirements for processing open payments
- Proposing improvements for ISO 15118 to enhance user experiences and simplify the EV charging infrastructure
- Evaluating and promoting the adoption of emerging technologies
The EV Open Payments Working Committee was created following the well-attended “Electric Vehicle (EV) Technology for Open Payments” webinar, developed by the Forum’s Communication and Education Working Committee. The full webinar playback is available on the Forum’s website.
Payments industry professionals, EV manufacturers and technology makers, Charge Point Operators and individuals who are interested in taking part in Working Committee activities can visit the Forum website to learn how to become a member. For membership levels, benefits and the application, visit the membership page.
About the U.S. Payments Forum
The U.S. Payments Forum is a cross-industry body focused on supporting the introduction and implementation of new and emerging technologies that protect the security of, and enhance opportunities for payment transactions within the U.S. The Forum is the only non-profit organization whose membership includes the whole payments ecosystem, ensuring that all stakeholders have the opportunity to coordinate, cooperate on, and have a voice in the future of the U.S. payments industry.
Contact
Sherlyn Rijos
Montner Tech PR
203-226-9290
srijos@montner.com
