Delivering Fortum’s Industry-First Multi-Option EV Charging Payment Solution
Growth of Fortum’s electric vehicle charging station business in India was being hampered by a cumbersome post-payment model. But in partnership with its core banking partner BNP Paribas India, the firm was able to take its customer payment experience to the next level. Rajani Modi, Head, Project Finance & Treasury, Fortum Group, India, and Vaibhav Sharma Head of Transaction Banking Sales, BNP Paribas India, explore the pathway to success.
When Fortum Group’s electric vehicle (EV) charging business in India sought a new level of customer experience to drive growth, it harnessed the power of partnership to deliver a unique combination of payments tools.
Fortum Group is a leading clean-energy company headquartered in Finland with offices in 12 countries. The group has been setting up EV charging stations across India through its domestic consumer business, Fortum Charge & Drive (C&D) India. As a key part of the development plan for this entity, it was looking to upgrade its existing somewhat limiting post-payment model.
Two key objectives were pursued through its improvement. First, Fortum C&D wanted to minimise end-customer credit risk when using its unmanned EV charging stations. And second, it wanted to attract more customers by delivering hitherto unseen payment flexibility and a superior user experience (UX).