In a bid to assist ‘Electrify America’ – an EV fast charging station network in the United States – retail giant Walmart has recently announced plans for the installation of new EV fast-charging stations at thousands of Walmart and Sam’s Club locations.
The installation of these chargers will work towards making EV ownership more accessible, reliable, and affordable in the US, with the company stating by 2030 it intends to build its own EV fast-charging network across the country.
We spoke to Yair Nechmad, CEO & Co-founder of leading cashless EV solution provider Nayax, to learn more about what this decision means for the US, and touch on the benefits of the company’s cashless payment solution.
Just Auto (JA): Could you tell me a little bit of background about the company?
Yair Nechmad (YN): Nayax was founded in 2005 with the goal of simplifying payments for business owners around the world. Nayax is the largest global financial technology platform that delivers 99.99% availability of its payment terminals and ensures payment acceptance of both global and local payment methods.
Our customer-centric approach enables us to constantly innovate and improve our offering. In 2015, we founded EV Meter, a complete EV-charging solution and the first with an embedded payment solution.
With the transportation industry making a meaningful shift towards electric vehicles and infrastructure, we decided to invest in the world of EV and to improve its adoptability by offering EV charging stations along with an open payment system.
Could you discuss the Walmart announcement and what this involves?
Walmart recently announced that they will be installing fast chargers at several Walmart and Sam’s Club locations across the country in an effort to improve customer experience and increase EV adoption.
However, when companies such as Walmart take this leap, it is important to consider all aspects of the EV drivers’ experience. Fast chargers are one aspect, and open cashless payments are another.
Walmart recently announced that they will be installing fast chargers at several Walmart and Sam’s Club locations across the country
What does the installation of these fast chargers mean for Electrify America?
The installation of fast chargers at Walmart and Sam’s Club locations across the US will greatly improve EV drivers’ experience. Having chargers available at locations that many Americans frequent decreases range anxiety and encourages more EV adoption. Fast chargers provide EV drivers with an excellent solution, allowing them to charge their cars while they shop.
What are the benefits of your solution being cashless?
Beyond installing fast chargers in public places with high traffic, it is important to take the payment part of EV charging into consideration. Open payment systems are crucial for these charging stations, as they allow consumers to pay for charging with their credit card or preferred payment method as they would have for gas.
Many EV chargers across America require drivers to download a dedicated app and use that app for payment. This forces drivers to sign up for several different apps, as they aren’t sure when or where they’ll need to charge again. It’s also a lot of work for a one-time charge.
An open cashless payment system completely changes this picture. It not only simplifies the payment experience, but also helps ease EV adoption and helps EV charging companies become more profitable. Payment should be the least of any EV drivers’ worries. It should be easy and seamless, and that is why open cashless payments is the solution.
What do you think the future holds for EV charging?
Though electric vehicles are becoming more and more popular, there is still some work to do, both when it comes to infrastructure and when it comes to practicality. I believe that it will take some time for EV adoption to become the norm, but open cashless payments will greatly help this effort.
Walmart’s plans
By 2030, Walmart intends to build its own EV fast-charging network at thousands of Walmart and Sam’s Club locations across the US. This would be in addition to the almost 1,300 EV fast-charging stations it already has available at more than 280 US facilities.
With a store or club located within 10 miles of approximately 90% of Americans, Walmart says it is uniquely positioned to deliver a convenient charging option that will help make EV ownership possible whether people live in rural, suburban or urban areas. The company’s goal is to meet the ‘needs of customers and members where they live and open the road to those driving across the country’. The company says easy access to on-the-go charging is a game-changer for drivers who have been hesitant to purchase an EV for concerns they won’t be able to find a charger in a clean, bright and safe location when needed.
Walmart says the plan marks the ‘latest investment in our efforts to transform our business and product supply chains to be more regenerative, in this case helping reduce emissions and increase efficiencies for customers’.
