diff --git a/paymentsheet/src/main/java/com/stripe/android/customersheet/data/CachedCustomerEphemeralKey.kt b/paymentsheet/src/main/java/com/stripe/android/customersheet/data/CachedCustomerEphemeralKey.kt
index f43808f11f6..eac5cb890fe 100644
--- a/paymentsheet/src/main/java/com/stripe/android/customersheet/data/CachedCustomerEphemeralKey.kt
+++ b/paymentsheet/src/main/java/com/stripe/android/customersheet/data/CachedCustomerEphemeralKey.kt
@@ -3,14 +3,35 @@ package com.stripe.android.customersheet.data
 import kotlin.time.Duration.Companion.milliseconds
 import kotlin.time.Duration.Companion.minutes
 
-internal data class CachedCustomerEphemeralKey(
-    val customerId: String,
-    val ephemeralKey: String,
-    private val expiresAt: Int,
-) {
-    fun shouldRefresh(currentTimeInMillis: Long): Boolean {
-        val remainingTime = expiresAt - currentTimeInMillis.milliseconds.inWholeSeconds
+internal sealed interface CachedCustomerEphemeralKey {
+    fun shouldRefresh(currentTimeInMillis: Long): Boolean
 
-        return remainingTime <= 5.minutes.inWholeSeconds
+    data class Available(
+        val customerId: String,
+        val ephemeralKey: String,
+        private val expiresAt: Int,
+    ) : CachedCustomerEphemeralKey {
+        override fun shouldRefresh(currentTimeInMillis: Long): Boolean {
+            val remainingTime = expiresAt - currentTimeInMillis.milliseconds.inWholeSeconds
+            return remainingTime <= 5.minutes.inWholeSeconds
+        }
+    }
+
+    data object None : CachedCustomerEphemeralKey {
+        override fun shouldRefresh(currentTimeInMillis: Long): Boolean {
+            return true
+        }
     }
 }
+
+
+internal fun <T> Result<CachedCustomerEphemeralKey>.mapWithEphemeralKeyCatching(
+    mapper: (customerId: String, ephemeralKey: String) -> T
+): Result<T> {
+    return mapCatching { cachedKey ->
+        when (cachedKey) {
+            is CachedCustomerEphemeralKey.Available -> mapper(cachedKey.customerId, cachedKey.ephemeralKey)
+            is CachedCustomerEphemeralKey.None -> throw IllegalStateException("No ephemeral key was available!")
+        }
+    }
+}
\ No newline at end of file
diff --git a/paymentsheet/src/main/java/com/stripe/android/customersheet/data/CustomerSessionElementsSessionManager.kt b/paymentsheet/src/main/java/com/stripe/android/customersheet/data/CustomerSessionElementsSessionManager.kt
index dc9bba50214..4137b71134b 100644
--- a/paymentsheet/src/main/java/com/stripe/android/customersheet/data/CustomerSessionElementsSessionManager.kt
+++ b/paymentsheet/src/main/java/com/stripe/android/customersheet/data/CustomerSessionElementsSessionManager.kt
@@ -30,23 +30,20 @@ internal class DefaultCustomerSessionElementsSessionManager @Inject constructor(
     @IOContext private val workContext: CoroutineContext,
 ) : CustomerSessionElementsSessionManager {
     @Volatile
-    private var cachedCustomerEphemeralKey: CachedCustomerEphemeralKey? = null
+    private var cachedCustomerEphemeralKey: CachedCustomerEphemeralKey = CachedCustomerEphemeralKey.None
 
     private var intentConfiguration: CustomerSheet.IntentConfiguration? = null
 
     override suspend fun fetchCustomerSessionEphemeralKey(): Result<CachedCustomerEphemeralKey> {
         return withContext(workContext) {
             cachedCustomerEphemeralKey.takeUnless { cachedCustomerEphemeralKey ->
-                cachedCustomerEphemeralKey == null || cachedCustomerEphemeralKey.shouldRefresh(
-                    timeProvider()
-                )
+                cachedCustomerEphemeralKey.shouldRefresh(timeProvider())
             }?.let {
                 Result.success(it)
-            } ?: run {
-                fetchElementsSession().mapCatching {
-                    cachedCustomerEphemeralKey
-                        ?: throw IllegalStateException("Should have been initialized from `elements/session`!")
-                }
+            } ?: kotlin.runCatching {
+                fetchElementsSession().getOrThrow()
+
+                cachedCustomerEphemeralKey
             }
         }
     }
@@ -85,7 +82,7 @@ internal class DefaultCustomerSessionElementsSessionManager @Inject constructor(
                     externalPaymentMethods = listOf(),
                 ).onSuccess { elementsSession ->
                     elementsSession.customer?.session?.run {
-                        cachedCustomerEphemeralKey = CachedCustomerEphemeralKey(
+                        cachedCustomerEphemeralKey = CachedCustomerEphemeralKey.Available(
                             customerId = customerId,
                             ephemeralKey = apiKey,
                             expiresAt = apiKeyExpiry,
diff --git a/paymentsheet/src/main/java/com/stripe/android/customersheet/data/CustomerSessionSavedSelectionDataSource.kt b/paymentsheet/src/main/java/com/stripe/android/customersheet/data/CustomerSessionSavedSelectionDataSource.kt
index 04656cadb13..f379fc524ac 100644
--- a/paymentsheet/src/main/java/com/stripe/android/customersheet/data/CustomerSessionSavedSelectionDataSource.kt
+++ b/paymentsheet/src/main/java/com/stripe/android/customersheet/data/CustomerSessionSavedSelectionDataSource.kt
@@ -42,8 +42,8 @@ internal class CustomerSessionSavedSelectionDataSource @Inject constructor(
     }
 
     private suspend fun createPrefsRepository(): CustomerSheetDataResult<PrefsRepository> {
-        return elementsSessionManager.fetchCustomerSessionEphemeralKey().mapCatching { ephemeralKey ->
-            prefsRepositoryFactory(ephemeralKey.customerId)
+        return elementsSessionManager.fetchCustomerSessionEphemeralKey().mapWithEphemeralKeyCatching { customerId, _ ->
+            prefsRepositoryFactory(customerId)
         }.toCustomerSheetDataResult()
     }
 }
diff --git a/paymentsheet/src/test/java/com/stripe/android/customersheet/data/DefaultCustomerSessionElementsSessionManagerTest.kt b/paymentsheet/src/test/java/com/stripe/android/customersheet/data/DefaultCustomerSessionElementsSessionManagerTest.kt
index 81c3639edbb..d53b5f36ce9 100644
--- a/paymentsheet/src/test/java/com/stripe/android/customersheet/data/DefaultCustomerSessionElementsSessionManagerTest.kt
+++ b/paymentsheet/src/test/java/com/stripe/android/customersheet/data/DefaultCustomerSessionElementsSessionManagerTest.kt
@@ -126,7 +126,7 @@ class DefaultCustomerSessionElementsSessionManagerTest {
 
         assertThat(result).isEqualTo(
             Result.success(
-                CachedCustomerEphemeralKey(
+                CachedCustomerEphemeralKey.Available(
                     customerId = "cus_1",
                     ephemeralKey = "ek_123",
                     expiresAt = 999999,
@@ -159,6 +159,7 @@ class DefaultCustomerSessionElementsSessionManagerTest {
             apiKey = "ek_123",
             apiKeyExpiry = 999999,
             customerId = "cus_1",
+            currentTime = 10,
             onCustomerSessionClientSecret = {
                 amountOfCalls++
 
@@ -180,7 +181,81 @@ class DefaultCustomerSessionElementsSessionManagerTest {
         assertThat(amountOfCalls).isEqualTo(1)
         assertThat(lastResult).isEqualTo(
             Result.success(
-                CachedCustomerEphemeralKey(
+                CachedCustomerEphemeralKey.Available(
+                    customerId = "cus_1",
+                    ephemeralKey = "ek_123",
+                    expiresAt = 999999,
+                )
+            )
+        )
+    }
+
+    @Test
+    fun `on fetch ephemeral key, should re-fetch key if expired`() = runTest {
+        var amountOfCalls = 0
+
+        val manager = createElementsSessionManagerWithCustomer(
+            apiKey = "ek_123",
+            apiKeyExpiry = 200000,
+            customerId = "cus_1",
+            currentTime = 210000000,
+            onCustomerSessionClientSecret = {
+                amountOfCalls++
+
+                Result.success(
+                    CustomerSheet.CustomerSessionClientSecret.create(
+                        customerId = "cus_1",
+                        clientSecret = "cuss_123",
+                    )
+                )
+            }
+        )
+
+        manager.fetchCustomerSessionEphemeralKey()
+        manager.fetchCustomerSessionEphemeralKey()
+        manager.fetchCustomerSessionEphemeralKey()
+
+        val lastResult = manager.fetchCustomerSessionEphemeralKey()
+
+        assertThat(amountOfCalls).isEqualTo(4)
+        assertThat(lastResult).isEqualTo(
+            Result.success(
+                CachedCustomerEphemeralKey.Available(
+                    customerId = "cus_1",
+                    ephemeralKey = "ek_123",
+                    expiresAt = 200000,
+                )
+            )
+        )
+    }
+
+    @Test
+    fun `on fetch elements session, should set ephemeral key & be re-used when fetching ephemeral key`() = runTest {
+        var amountOfCalls = 0
+
+        val manager = createElementsSessionManagerWithCustomer(
+            apiKeyExpiry = 999999,
+            currentTime = 10,
+            onCustomerSessionClientSecret = {
+                amountOfCalls++
+
+                Result.success(
+                    CustomerSheet.CustomerSessionClientSecret.create(
+                        customerId = "cus_1",
+                        clientSecret = "cuss_123",
+                    )
+                )
+            },
+        )
+
+        manager.fetchElementsSession()
+        val ephemeralKey = manager.fetchCustomerSessionEphemeralKey()
+
+        assertThat(amountOfCalls).isEqualTo(1)
+
+        assertThat(ephemeralKey).isEqualTo(
+            Result.success(
+                CachedCustomerEphemeralKey.Available(
                     customerId = "cus_1",
                     ephemeralKey = "ek_123",
                     expiresAt = 999999,
diff --git a/paymentsheet/src/test/java/com/stripe/android/customersheet/data/FakeCustomerSessionElementsSessionManager.kt b/paymentsheet/src/test/java/com/stripe/android/customersheet/data/FakeCustomerSessionElementsSessionManager.kt
index 234ea24da69..0a3d9a227f0 100644
--- a/paymentsheet/src/test/java/com/stripe/android/customersheet/data/FakeCustomerSessionElementsSessionManager.kt
+++ b/paymentsheet/src/test/java/com/stripe/android/customersheet/data/FakeCustomerSessionElementsSessionManager.kt
@@ -4,7 +4,7 @@ import com.stripe.android.model.ElementsSession
 
 internal class FakeCustomerSessionElementsSessionManager(
     private val ephemeralKey: Result<CachedCustomerEphemeralKey> = Result.success(
-        CachedCustomerEphemeralKey(
+        CachedCustomerEphemeralKey.Available(
             customerId = "cus_1",
             ephemeralKey = "ek_123",
             expiresAt = 999999,