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Israel-based payments company Nayax Ltd. lined up another partnership to process payments for electric vehicle owners who stop at E-Plug-branded charging stations.
Announced Monday, the partnership means Nayax will handle payments at an anticipated 2,200 connections throughout the United States. Earlier in March, Nayax said 40% of its revenue comes from the U.S. market.
The E-Plug deal follows a pair of similar ones. In January, Nayax announced it would work with Autel Energy, an EV charger provider, to embed payment technology in an expected 100,000 chargers to be installed in North America and Europe this year. That came after its December $25.9-million acquisition of Lynkwell, a U.S.-based technology developer for charging stations.
The EV market is in some flux now, however, with Cox Automotive Inc., an automotive services and technology provider, reporting new EV car sales decreased 29.9% year-over-year in January, though used EV sales increased 21.1% for the same period.
E-Plug, which is owned by Energy Plus NY, will be among the first EV charging platforms to adopt the combined Nayax and Lynkwell charging service, Nayax says. The combo provides for payment processing, cloud-based fleet monitoring and monetization tools, and consolidated financial reporting for both card-present and in-app transactions, Nayax says.
