Charge up your parking business with EV charging: unlock multiple new revenue streams

In today's digital era, successful businesses thrive by embracing innovation. This also applies to the parking industry: if you’re looking to elevate your revenue game, you need to adapt to emerging trends. In this article, we'll explore the integration of EV charging points as a strategic avenue for parking business owners. You will discover how to meet the rising demand for electric vehicle infrastructure and open up exciting new revenue streams for your parking business.

The surge of electric vehicles: an electrifying business prospect

As the automotive landscape undergoes a transformative shift towards sustainable practices, the surge in electric vehicle (EV) adoption presents a lucrative business opportunity for parking space owners. With the increasing popularity of EVs, the demand for accessible and convenient charging infrastructure is on the rise. By 2025, there will be approximately 34 million electric cars on the road globally, about 13 million of which in Europe. And the market is expected to keep growing exponentially. Charging a car, therefore, is poised to become as commonplace as refuelling or parking. But at this point in time, finding the right spot to charge your vehicle when you’re on the road in Europe or the UK still poses a challenge. Due to the various payment apps, cards or subscriptions that are often required now, EV drivers may need to do some serious planning of when and where to charge.

Fortunately, both progressive European and British legislation are paving the way for broader acceptance of open payment systems such as regular credit or debit cards and mobile payment apps like Google or Apple Pay. This legislative push ensures a seamless and widespread adoption of open payment methods, making electric driving in Europe not only environmentally friendly but also more accessible and convenient. As a parking space owner, you can stand at the forefront of this evolving market and turn EV charging into a flourishing business venture.

Beyond parking fees, into EV charging profits

The integration of EV charging points in your parking facility provides a dual benefit: catering to the expanding electric vehicle market and diversifying your income streams. It also helps you differentiate from your competitors, since offering EV charging services not only attracts new environmentally conscious customers but also positions your business as forward-thinking and adaptable to emerging trends. And when you’re able to accept public payment methods for these charging services, such as bank cards, you can easily provide this service as an add-on to any EV driver who’s parking at your facility.

A promising shift is underway as major energy suppliers and charge point operators transition to embrace these public payment options alongside existing closed systems. This transition is particularly critical in public locations like supermarket parking spots, where accessibility for private drivers is paramount. By facilitating a broader acceptance of public means of payment, parking space owners can seamlessly cater to both private and business drivers, tapping into the growing demand for EV charging services and solidifying their position as innovative contributors to the evolving mobility landscape.

How to integrate EV charging in your parking space and maximise your revenue

As a forward-thinking parking space owner, incorporating EV charging points not only aligns with sustainability trends but also opens the door to a myriad of revenue-generating opportunities–even beyond charging fees. Below, we describe six ways in which you can strategically benefit from EV charging services within your facility.

1. Charging fees for EV charging services

Implement a pay-per-use model to capitalise on the increasing demand for EV charging. Electric vehicle drivers can pay a fee for accessing and utilising the EV charging infrastructure within your parking space. This straightforward approach ensures that revenue is directly tied to the usage of the charging services, providing a transparent and fair system for both the parking space owner and the EV users.

2. Integration of open-loop payment

Enhance user convenience by enabling public payment methods, such as bank cards. Facilitating seamless payments for EV charging services ensures a user-friendly experience and widens accessibility. This integration not only caters to the diverse preferences of electric vehicle drivers but also positions your parking facility as progressive and accommodating. CCV’s Edge IM15, for instance, is a gamechanger in cashless payment for parking and EV charging.

3. Loyalty programmes

Introduce subscription plans or membership programmes to encourage loyalty among regular users. Also when providing an open-loop payment system, you can offer cost-effective, recurring payment options too, to secure a consistent income stream and create a sense of exclusivity for members. This model is particularly effective for catering to individuals who rely on your parking facility for frequent EV charging needs.

4. Collaboration with EV charging networks

Looking to tap into a broader use base? Forge partnerships with established EV charging networks! By joining these networks, you gain exposure to a diverse range of electric vehicle drivers. In return, you may negotiate a share of the revenue generated through their platform. This collaborative approach enhances the visibility of your parking facility and strengthens your position within the broader EV charging ecosystem.

5. Advertise and promote services

Your new revenue streams need not stop at charging fees. You can transform your parking space into a dynamic advertising platform also. Offer promotional opportunities for businesses aiming to reach electric vehicle drivers. By strategically placing advertisements within your facility, you create an additional revenue stream. This allows other businesses to target a specific audience, while you capitalise on the advertising revenue.

One smart way to achieve this is by integrating a payment terminal that enables you to display special offers on screen. The CCV IM30 is such a terminal and is suitable for both parking and EV charging. It runs on a self-contained, secure version of Android, with countless possibilities for promotions via unique custom Android apps. We’ll dive deeper into its features below.

6. Collaboration with businesses and employers

Establish mutually beneficial partnerships with nearby businesses or employers. By providing exclusive EV charging services for their employees or customers, you create a unique value proposition. This collaborative arrangement not only generates revenue but also strengthens community ties and fosters a sense of shared sustainability goals.

7. Enrich the customer journey combining parking and EV charging

To truly maximise the potential of your parking facility and EV charging points, it's crucial to offer customers a seamless experience that integrates both services effortlessly. With the right payment solution, such as the previously mentioned CCV IM30, you can empower your customers to opt for parking and charging simultaneously, all with a single, convenient payment. Either way, make sure to select a solution that goes beyond a mere payment device so that you can customise the customer experience, communicate through dedicated apps, gather valuable marketing intelligence, and implement business applications.

By simplifying the transactions you will enhance the overall satisfaction of your customers and make their visit to your parking facility an enjoyable experience. Plus, through advanced solutions like the CCV IM30, you’re not just providing services; you are crafting a holistic and technologically advanced environment that aligns with the evolving needs of modern consumers. It helps you ensure that every interaction with your facility is a fusion of convenience and innovation.

By adopting these diverse approaches, you will not only meet the growing demand for EV charging infrastructure but also maximise the financial potential of your facility. The key lies in strategic diversification, offering a range of services that cater to the varied needs of EV drivers while creating sustainable revenue streams for your parking business.

Technological integration: the key to success

Are you prepared for the future? Technological integration stands as the linchpin for success in managing EV charging points efficiently within parking facilities. And the evolution of user-friendly mobile apps, seamless payment gateways, and smart infrastructure plays a pivotal role in enhancing the overall experience.

The future-proof and secure IM-series payment solutions of CCV are designed to complement your EV charging services seamlessly. The CCV IM30 in particular is poised to redefine the landscape of self-service payments. Since it operates on a self-contained, secure version of Android, it offers unparalleled customisation possibilities and supports various apps. This makes it the perfect solution for creating a kiosk model for EV and parking payments. Security is paramount and its intelligence goes beyond transactions, opening doors to a plethora of communication and advertising possibilities to enhance your customers' experience.

Another standout solution in this realm is the CCV Edge IM15, a more compact payment terminal. The CCV Edge IM15 boasts a 3.5" colour touchscreen, offering an intuitive interface for users. Its integrated contactless reader, virtual PIN-Pad, and support for both open-loop and closed-loop payment systems make it a versatile asset in facilitating hassle-free transactions. The 'PIN on glass' feature prevents payment hurdles, enabling secure contactless payments with PIN on demand, which ensures a smooth and reliable payment process. The terminal fits into small machines and standard cut-outs, making it an ideal choice for various installations. With multiple built-in interfaces and optional 4G connectivity for remote locations, the CCV Edge IM15 provides a robust and flexible solution.

Fuelling tomorrow

As electric vehicles become increasingly prevalent, those who seize the untapped potential of EV charging in their parking facilities are not merely keeping pace; they are propelling their businesses toward a sustainable and lucrative tomorrow. By strategically implementing charging fees, subscription programmes, and collaborations with EV charging networks, businesses can unlock a new realm of financial possibilities. And with the technological prowess of solutions like the CCV Edge IM15, you will further enhance the user experience, making seamless transactions and connectivity a reality.

So explore the possibilities, transform your parking space, and be at the forefront of a revolution that reshapes the future of urban mobility. The road to success is electric–charge ahead!