Embedded Finance Will Play Central Role in EV Future | Pay It Forward With Elli (Volkswagen Group)

The future of Electric Vehicles is intertwined with embedded finance. In this Pay It Forward episode, Volkswagen Group’s Andre Moeller explores how embedded finance EV charging is reshaping the electric vehicle experience — from in-car payments and plug-and-charge tech to cross-border billing and driver-first innovation.

We hear about the future of in-car payments, plug-and-charge technology, and enhancing the customer experience with further amenities during longer charging times.

It’s a fascinating look at the questions we’re all asking as we look to the future of driving.

Making charging easy

The conversation begins with Moeller looking at the unique challenges faced by the electric vehicle (EV) charging sector compared to traditional e-commerce.

With more and more people making the transition to electric vehicles, there’s a need for a seamless, reliable payment system that works effortlessly across different geographies and currencies, accommodating different payment preferences across Europe. For Elli, the future involves multiple payment methods, including both pan-European and local options.

This potential is balanced by operational complexities, which Moeller explains involves customers traveling across countries receiving invoices in different currencies and languages, which can be problematic. The goal is to prioritize the customer’s experience, tackling issues from technical, linguistic, and driver convenience perspectives.

Looking ahead, Moeller also identifies key trends in payments technology. This is where the embedded finance market, which is anticipated to surpass $228bn by 2028, could do something really groundbreaking. He highlights the growing role of in-car payment systems, which could eventually negate the need for smartphones or ID cards at charging points. The next leap is the plug-and-charge technology, where the charging station automatically identifies the vehicle, simplifying the process to merely plugging in the cable, making it as effortless as possible for the user.

Moeller also touches on the broader implications of these advancements. Charging stations are evolving from simple points of transaction into multi-functional hubs. As charging an EV takes longer than refueling a traditional car, new facilities like co-working spaces, cafes, and recreational areas could be added to enhance the customer experience during wait times.

The conversation concludes with a discussion on the importance of partnerships in the fintech and automotive industries. Moeller highlights a recent collaboration between Volkswagen Group Charging and SIXT, a major car rental company. This exemplifies the potential of data sharing and integrated services, where a customer can seamlessly use charging services through a single app. Moeller goes on to suggest we need more collaborations like this, suggesting that companies should focus on mutual benefits and improved customer experiences rather than competing over customer data.

The future of embedded finance EV charging isn’t just about payments — it’s about seamless ecosystems, smarter vehicles, and user-centric services that redefine convenience. Volkswagen Group’s Elli is leading the charge. It’s a comprehensive insight into the evolving landscape of EV charging and payments, which we hope you enjoy. If you want to hear about more ways payments are impacting different sectors, check out other editions of the Pay it Forward podcast on our website.