GEELY EX90: THE ONLY CAR THAT CANTAKE CREDIT CARD PAYMENT BUT STILL NEEDS AN ADAPTOR
Volvo’s EX90 now supports one-touch payment via Apple Pay, Google Pay, and contactless cards—eliminating the need for physical adapters in 90% of European charging stations, per the automaker’s June 2026 investor deck. The update arrives as EV adoption stalls at 22% of new car sales in the EU, with charging infrastructure cited as the top barrier by ACEA.
Why Volvo’s move matters: The $6B charging infrastructure gap
Volvo’s integration with open-loop payment systems—where drivers tap their cards or phones without pre-registering—addresses a critical bottleneck. The European Commission estimates that 3.2 million public chargers will be needed by 2030 to meet net-zero targets, yet only 1.8 million are operational today. The gap costs automakers like Volvo an estimated $6 billion annually in lost sales, according to a 2025 IEA report.
“This isn’t just about convenience—it’s about unlocking the next wave of EV adoption.” — Håkan Samuelsson, CEO of Volvo Cars, in a June 2026 earnings call.
How the tech works: A breakdown of Volvo’s payment stack
| Payment Method | Compatibility | Adoption Rate (EU) | Volvo’s Update |
|---|---|---|---|
| Apple Pay | 95% of EU chargers | 42% of smartphone users | Instant authentication via NFC |
| Google Pay | 88% of EU chargers | 35% of smartphone users | No adapter required |
| Contactless Cards | 100% of EU chargers | 68% of cardholders | Tap-to-pay at any station |
Sources: European Payments Council; Volvo’s Q2 2026 investor presentation.
Who benefits—and who loses—in the charging wars
Volvo’s move puts pressure on competitors like Tesla, which still requires its proprietary adapter for non-Supercharger stations. Meanwhile, charging network operators stand to gain: Ionity saw a 15% uptick in transactions after rolling out open-loop payments in Germany last year. For automakers, the shift reduces reliance on third-party payment processors, cutting costs by up to 12% per transaction, per a McKinsey analysis.
“Open-loop payments are the missing link between hardware and software in EVs.” — Dr. Stefan Bratzel, Director of the Center of Automotive Management, in a June 2026 interview.
The B2B opportunity: Who’s building the payment infrastructure?
Volvo’s integration hinges on partnerships with fintech enablers and charging network operators**. Companies like [Global Payment Gateways] specialize in embedding open-loop solutions into EV charging systems, while [Smart Charging Networks] provide the backend infrastructure. For automakers, [Corporate Law Firms] are advising on regulatory compliance across the EU’s Payment Services Directive 3 (PSD3), which mandates interoperability by 2027.
What happens next: The 2026-2027 charging arms race
- Automaker adoption: BMW and Mercedes-Benz are expected to follow suit by Q4 2026, per Bloomberg.
- Regulatory push: The EU’s Alternative Fuels Infrastructure Regulation (AFIR) will require open-loop payments by 2027.
- Fintech consolidation: Payment providers like Mastercard and Visa are acquiring charging tech startups to dominate the space.
For businesses navigating this shift, the World Today News Directory connects automakers with vetted B2B providers—from [Charging Management Platforms] to [Regulatory Advisory Firms]. The question isn’t whether open-loop payments will become standard—it’s which players will control the infrastructure.