EFTCorp delivers Africa’s first open-loop payment solution for Rubicon charging stations.

As South Africa's new energy vehicle market is fast expanding, and fintech company EFT Corporation is setting the standard for payment innovation by deploying a cloud-based, open-loop payment system for Electric Vehicle (EV) charging stations.

EFT Corporation announced the move today, saying that in partnership with Rubicon, Visa, and Verifone, EV charging stations would become more user-friendly, opening the door for expansion in the electric transportation sector.

This solution, with the proof-of-concept phase already launched at several sites in Johannesburg and Cape Town, will allow users to pay with major credit cards at Rubicon charging stations for the first time.

The company says prior to this launch, the closed-loop system meant that customers needed to set up pre-funded wallets and use special cards to charge their vehicle.

This created, EFTCorporatiion says, a series of extra steps in the process, inconveniencing users but also limiting interoperability across different charging stations.

Additionally, it said there was a need for a more efficient, seamless payment process without requiring physical computers at each charging station due to concerns like theft, power management, and maintenance.

The company went on to say: “Through the integration of EFTCorp’s payment platform with Verifone’s UX700 class-leading unattended payment device, customers can now use major credit cards on Rubicon charging stations, without having to pre-fund wallets. Additionally, terminals can now be controlled remotely using cloud-based technology.”

Vahini Jaganath, Senior Director - Digital Solutions for Visa Sub-Saharan Africa, explains: “There is no substitute for the convenience of simply tapping a card to transact instead of setting up an account and logging into a mobile app for each purchase

With over 60% of transactions in South Africa now contactless, open-loop solutions allow drivers to charge their electric vehicles at any public charging station without needing an account or membership, creating a seamless payment experience. Enabling contactless payments at all public charging stations is an important step in making EV ownership more accessible."

According to Paul Carter-Brown, CTO at EFTCorp, the implementation of incremental pre-authorisation for dynamic, consumption-based billing is a first in South Africa, and it exemplifies how collaboration can lead to significant innovation, with complex technologies being integrated to provide a streamlined and user-friendly experience for customers.

He explains: “It’s a great example of how collaboration can lead to significant innovation, with complex technologies being integrated to deliver a streamlined and user-friendly experience for customers. EFTCorp orchestrated so many moving parts for this project:

“The payment terminals had to be controlled remotely without local computers for the first time, Verifone deployed its functionality to support remote cloud-based terminal control, and introducing incremental estimated authorisation and reducing pre-authorisation hold times necessitated specific customisations with our banking partner.

“And all these various systems, including Rubicon, Verifone payment devices, and EFTCorp’s integrated technology stack and switches, had to be synchronised.

“The result is a significant advancement for the sector, benefitting all parties involved”, says Hilton Musk, E-Mobility Project Manager at Rubicon.

“Though it required complex operational changes, the result is the opposite for the end-user: A considerably simplified experience. It’s a unique solution for the EV charging sector and an important step for sustainability in South Africa, because the easier it is to access and use EV charging solutions, the better the adoption of electric vehicles will be.”

Craig Rankin, General Manager for Verifone South Africa, comments: “Unattended payments are revolutionising the way consumers interact with businesses, and it is our ongoing goal to upgrade these shopping touchpoints into powerful digital commerce hubs that streamline the experience for the end user. Together with its partners, Verifone leads this transformation through new standards for convenience and security, and through solutions for modern transactions that are deeply integrated with merchants’ and partners’ ecosystems.”