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EMVCo forms task force for EV Open Payments

Monday 18 September 2023 12:23 CET | News

US-based Global technical body EMVCo has announced the formation of the Electric Vehicle Open Payments Task Force.

 

The primary objective of this Task Force is to collaborate with various stakeholders within the industry to investigate the potential integration of EMV1 payment technology in supporting secure and streamlined payment transactions at electric vehicle (EV) charging stations. 

According to the official press release, as electric vehicle adoption continues to surge on a global scale, addressing the associated challenges in charging infrastructure is becoming priority for both industry players and policymakers worldwide. This includes the pursuit of straightforward and user-friendly payment processes at charging stations to meet the expectations of EV users. 

EMVCo specialises in developing and overseeing EMV specifications and programmes, enabling industry participants to create payment products that function seamlessly and securely on a global scale. In response to feedback from the industry, EMVCo is now exploring the application of Open Payment solutions to enhance the consistency of the payment experience for EV users across various charging networks. 

Representatives from EMVCo emphasised the current inconvenience faced by many EV users who must sign up for different proprietary applications or memberships to facilitate payments at charging stations. They also brought up the way Open Payments can address this issue by allowing EV users to make payments in a familiar and consistent manner using their preferred payment method.

 

US-based Global technical body EMVCo has announced the formation of the Electric Vehicle Open Payments Task Force.

 

Collaborating with other organisations

The primary focus areas for EMVCo's EV Open Payments Task Force include engaging with industry organisations such as CharIN, the International Organization for Standardization (ISO), and the Secure Technology Alliance. These collaborations aim to explore opportunities for integrating EMV Specifications with existing EV charging standards and protocols to facilitate interoperable and open payment systems, including the ISO 15118 'Plug & Charge' Standard, which outlines a digital communication protocol between EVs and charging points. 

Furthermore, the Task Force will assess the feasibility of developing dedicated EMV Specifications tailored to EV charging payment products, in addition to providing support for functional approval and security evaluation processes. 

EMVCo's approach to creating, evolving, and advocating globally accepted specifications relies on active engagement and collaboration within the payments industry. A multitude of industry stakeholders, serving as EMVCo Associates and Subscribers, contribute their expertise and knowledge to the development of EMV Specifications. EMVCo also maintains close cooperation with global and regional technical organisations and industry associations. EMVCo encourages all parties interested in EV Open Payments to explore opportunities for participation in this initiative.


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Keywords: partnership, payments , payment processing, payments infrastructure
Categories: Payments & Commerce
Companies: EMVCo
Countries: United States
This article is part of category

Payments & Commerce

EMVCo

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