CIMB Rolls Out First-In-Market Contactless Payment Solution For EV Charging

Alex Cheong Pui Yin

27th May 2024 - 3 min read

CIMB Bank has partnered with electric vehicle (EV) charging management solution provider, JuiceUP, and digital payment service provider, Visa to introduce a first-in-market contactless payment solution for EV charge point operators in the industry. With this, EV owners will be able to pay for the charging service provided by participating operators using their credit and debit cards.

In a statement, the bank explained that this new solution is aimed at making the payment process more convenient for EV owners, removing the hassle of having to rely solely on EV apps. In turn, this is expected to encourage more people to consider EVs as a sustainable transportation option.

Aside from that, CIMB also revealed that it has onboarded EVPower as the first charge point operator to adopt the new contactless payment solution, and hopes to welcome more operators nationwide to take up the solution to simplify payments for their customers.

“In line with shifting consumer preferences toward seamless and instant payments, CIMB is pleased to offer a first-in-market contactless payment solution, designed to streamline transactions at charge points, ensuring a seamless process for EV users to enhance the overall customer journey. This underscores CIMB’s commitment to advancing sustainable mobility through innovative offerings that can elevate the EV ownership experience,” said the chief executive officer for group consumer and digital banking at CIMB, Effendy Shahul Hamid.

Meanwhile, chief operating officer of JuiceUP, Benson Lim said that the partnership is in line with the company’s commitment to support the government’s goal of advancing the adoption of EVs. Primarily, it seeks to remove existing barriers to the charging infrastructure and to provide innovative solutions that meet the evolving needs of the market.

“To this end, we are pleased to work with CIMB to offer the contactless payment solution for the convenience of EV users. JuiceUP provides a comprehensive EV charging solution, featuring a charge point management system for operators to manage, monitor, onboard, and analyse charger data across multiple locations,” Lim said.

To note, this latest solution is set to complement the suite of financial solutions that CIMB had rolled out back in May 2023, which encompasses financing, insurance protection, and various other privileges. Among other things, customers will be able to enjoy perks like preferential rates for their EV auto financing and a discount on their motor insurance.

In conjunction with the launch of this new solution, CIMB and EVPower are now running an exclusive promo where the bank’s credit and debit cardholders can enjoy up to 15% discount on the charging services at EVPower stations. This is on top of other existing promos that are offered through CIMB’s suite of EV financial solutions, such as a complimentary EVPower EV+ Membership with RM300 charge credits, a 10% extra wallet reload bonus, and RM1,500 discount when install a home wall charger (22kW) from EVPower.

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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