Shares of Nayax Ltd. (NASDAQ: NYAX) experienced a notable increase during the previous trading session, ascending by 5.92% to close the weekend at $22.71. This rise followed the company’s significant expansion initiative, particularly the introduction of Nayax EV CloudPay, a cloud-based payment solution aimed at facilitating transactions at electric vehicle (EV) charging stations.
Introduction of EV CloudPay
Nayax’s EV CloudPay allows drivers to make payments for their charging sessions using credit cards, debit cards, or mobile wallets through a physical payment processing kiosk situated at the charging station. This system eliminates the need for individual payment processing devices on each charger, as the kiosk can accept over 80 different forms of cashless and digital payments.
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Many EV drivers currently have to download many smartphone applications in order to pay for charging, which is a time-consuming procedure. The kiosk’s cloud-based architecture makes it possible for it to handle payments for several chargers, providing consumers and charging station managers with an efficient experience.
Overcoming Payment Infrastructure Issues
For both drivers and station owners, the current EV charging payment infrastructure is frequently ineffective and difficult. Encouraging drivers with a simple and easy charging experience, including a fast and easy payment option, is essential to driving the global adoption of EVs. Nayax is setting the standard with its cloud-based EV charging payment solution since it recognizes this requirement.
EV CloudPay from Nayax seeks to streamline the EV charging payment process at a pivotal point in the global transition to electric automobiles. Improving consumer uptake and usage of EVs requires a strong infrastructure for EV charging, which includes an effective payment mechanism.
Utilization of OCPI Protocol and Division Involvement
The EV CloudPay solution employs the Open Charge Point Interface (OCPI), a global open connectivity protocol, to facilitate payments. The standardized technology of OCPI allows for easy adoption and integration by charging station operators into their management systems.
This innovative payment solution is being introduced by Nayax Energy, the company’s energy and mobility division. This division also provides payment devices, software, and EV charging solutions for various locations, including street parking, parking garages, gas stations, hotels, shopping centers, and apartment buildings.
