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KYLE, Texas - XCharge North America, a subsidiary of XCharge (NASDAQ: XCH), a company specializing in high-power EV charging solutions, has launched its Virtual Point of Sale (VPOS) system, designed to enhance the payment experience for electric vehicle (EV) charging. The company, currently valued at approximately $75 million in market capitalization, has maintained impressive gross profit margins of 48% despite recent market challenges. This new feature aims to streamline transactions and bolster security for customers using XCharge systems.
The VPOS system comes pre-installed on all new XCharge systems and is available to current customers through a secure remote update. It manages payments via Stripe, a trusted industry platform, and supports a variety of payment methods, including Apple Pay, Google Wallet, and standard card processing. This flexibility caters to the evolving preferences of consumers who are increasingly looking for convenient, app-free payment options.
A standout feature of the VPOS is its dynamic on-screen QR code that updates to prevent phishing and fraud. Additionally, an optional pin code can secure the charging session, and the system provides real-time charging metrics, full data logging, and a register of transactions. Remote monitoring and diagnostics are included, allowing for full issue resolution without physical intervention.
XCharge North America’s President and Co-founder, Aatish Patel, emphasized that the VPOS is a direct response to customer feedback and market demand, marking it as a unique offering in the EV charging market. The company’s vertical integration with its hardware and aftersales teams is intended to optimize functionality and support for their products.
The launch of VPOS follows the recent introduction of GridLink, a solution tailored for EV charging and grid management in North America. XCharge North America’s focus is on making EV charging infrastructure more accessible, from individual business owners to fleets, while also integrating energy storage to improve grid resilience and create new revenue streams.
The company, which is part of XCharge (NASDAQ: XCH), a global leader in integrated EV charging solutions, continues to work towards a greener future by enhancing EV charging efficiency and unlocking the value of energy storage and management. According to InvestingPro analysis, while XCharge maintains strong liquidity with assets exceeding short-term obligations, the stock is currently trading below its Fair Value. Investors seeking deeper insights into XCharge’s financial health and growth potential can access additional ProTips and comprehensive financial metrics through InvestingPro.
This news is based on a press release statement from XCharge North America. Interested parties can learn more about the VPOS system at the upcoming EV Charging Summit & Expo in Las Vegas on March 25-27, where XCharge NA will provide a live demonstration.
In other recent news, XCHG Limited has achieved significant milestones with its GridLink system earning top UL safety certifications in the United States. These certifications, UL 1973 and UL 9540A, are recognized for ensuring safety, efficiency, and grid compliance in the energy storage market. This development marks a pivotal moment for XCHG’s expansion in the U.S., emphasizing superior safety and operational efficiency. Meanwhile, XCharge North America has partnered with the Orlando Utilities Commission to study the effectiveness of its Net Zero Series charger. This collaboration aims to enhance grid stability and reduce operational costs, with a focus on the charger’s demand response features.
Additionally, XCharge addressed recent unusual trading activity of its American Depositary Shares, stating that it is unaware of any material developments that could be influencing the volatility. The company reaffirmed its commitment to transparent communication and emphasized its robust operations and financial health. XCharge also advised investors to base decisions on factual information and consult financial advisors as needed. These recent developments highlight XCHG’s ongoing efforts to lead in innovation and technology within the EV charging solutions market.
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