The UITP Global Public Transport Summit is one of the most important events for experts in the transportation industry. Switchio will be there presenting its solution and vision for the future of public transportation.
Urbanites have long enjoyed the simplicity, seamlessness, and security of contactless payments in their day-to-day retail interactions, so it should come as no surprise that they want a similarly modern and convenient experience as they move about the city on public transit.
With the number of electric vehicles in Europe projected to top 40 million by 2030, and the European Parliament recently authorizing a law banning sales of new internal combustion vehicles in the EU by 2035, e-mobility is on the cusp of a golden age. But a reliance on closed-loop payments among EV charge point operators (CPOs) could see many of them fall by the wayside.
Another prestigious payments industry event, Merchant Payments Ecosystem 2023, is right around the corner, and Switchio will be there. Sharing experiences, knowledge, and trends with other industry leaders is essential to our company culture. Collaborations with major companies in the industry, such as Mastercard and Visa, allow us to offer our clients a unique service that helps them adapt to new trends faster and easier.
According to a case study conducted for the German Payment Systems Initiative (Initiative Deutsche Zahlungssysteme – IDZ), the public EV charging landscape in Europe is one of chaos, particularly in terms of payments. Looking at 61 charge point operators (CPOs) with some 30,000 facilities in both urban and rural locations across the continent, the study found that only six of them offer cEMV payments.
