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The following conversation with Roamy Valera, CEO, U.S. and Canada, and Andreas Gruber, president and global CEO of PayByPhone offers detailed insights into the company along with the features and functionalities of the application.
Please elaborate on the market challenges and how PayByPhone tackles it.
Gruber: When it comes to parking, people often face trouble finding an open spot, a parking meter, and then go back and forth for extending the parking time and avoiding a ticket. To put a stop to these time-consuming parking hassles, we built the PayByPhone application to be consumer-centric, intuitive, and easy-to-use for smartphone users. PayByPhone allows them to streamline cashless transactions from anywhere at any time. Users no longer have to worry about extending their parking time or continuously checking the time to determine the end of parking time as this application comes with instant notifications and top-up options.
What are the features that users can take advantage of when they use PayByPhone?
Valera: We are wholly owned and supported by the Volkswagen Financial Services that operates luxury automobile brands including VW, Audi, Porsche, Lamborghini, and Ducati. Our focus at the moment is on helping cities increase revenue, reduce cost, and streamline their parking operations through continuous innovations. The application is designed to minimize payment friction that exists in cashless parking solutions.
Our focus at the moment is on helping cities increase revenue, reduce cost, and streamline their parking operations through continuous innovations
As users add a number of cars to their profiles—be it for business purpose or personal use—our application enables them to personalize their profiles with the driver’s contact details, credit card permission, dashboard reporting, e-mail address for receipt notification, and occupation. The reporting feature essentially gives the asset owner an opportunity to view information associated with parking a vehicle. All these features are available in multiple languages such as French, Spanish, and Mandarin. In addition to that, we have been a leader in the security front and are compliant with the payment card industry (PCI) standard while maintaining various payment channels.
To highlight the proficiency of your application, please share a case scenario.
Valera: A few years back, the City of Miami was in search of a solution to regulate the parking payment in a popular arts and restaurant district. In pursuit of eliminating the capital costs involved in deploying hardware such as parking meters, they wanted an easy-to-use alternative. On partnering with us, the client was able to deploy the application in over 1,000 parking lots around the city and create an asset-light solution.
How has PayByPhone’s success been so far and what lies ahead for the company?
Gruber: With over 20 million registered users, we process close to $400 million of parking transactions per year. We have been experiencing a growth rate of three million new users and a 36 percent increase in app downloads year after year. To steer this success ahead, we are developing a data system for the “pay from the app” feature and will be enhancing our maps to show available parking spaces. Currently, we are collaborating with 12 worldclass vehicular industries to shape the future of mobility.
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