Crypto payments will soon be accepted at 50,000 electric vehicle charging stations across Europe through the partnership of two payment companies.
Irish e-commerce and mobile payment solutions company HIPS Payment Group Ltd and Swedish firm specializing in unattended payment facilities, Vourity, will be the two entities that will partner to facilitate the new payment option that is expected to be available over the next three years.
Meanwhile, initial reports about the project say the integration of crypto payments with charging stations is set to begin in November this year.
Ethereum likely to be among crypto to be supported
The two companies have not yet revealed which cryptocurrencies will be supported as payment for the electric car charging stations.
However, Vourity seemed to have dropped a telling hint that ethereum will be one of these digital currencies to be accepted, as it released an image of a payment terminal with an ETH logo on it.
“We are currently evaluating what crypto/coins we will support. It will be converted to fiat,” Vourity Chief Executive Officer Hans Nottehed, said.
As for the leading altcoin today, ethereum will be migrating to the much more energy-efficient Proof-of-Stake consensus mechanism next year. The move is expected to cushion any backlash from environmentally conscious electric vehicle drivers.
Paving the way for crypto payments
Merchant Token of HIPS Merchant Protocol will be leveraged in connecting Vourity’s electric vehicle charging stations to the blockchain in the integration of the crypto payments option.
Last May, HIPS Payment Group launched its Merchant Protocol along with its native governing token, paving the way for the partnership.
It was built on the Ethereum and Solana blockchain network and is planning to expand support to Cardano in the near future.
Image courtesy of Cointelegraph News/YouTube
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