eTelcharge.com Signs Letter of Intent With MobydoM
eTelcharge.com, Inc. (OTCBB: ETLC), a financial diversified merchant services company, announced today that the Company has signed a letter of intent with MobydoM Ltd., creators of an advanced parking management system based in Israel.
As cities struggle to manage the multi-billion parking industry that ranges from building parking structures to collecting fees, MobydoM provides technology to effectuate seamless and cost-effective transactions.
MobydoM and eTelcharge will partner to create an innovative and efficient payment option, based on MobydoM's US patented technology and eTelcharge's host of payment systems to fully integrate the system for municipalities nationwide. The signed letter of intent (non-binding) will allow eTelcharge exclusivity to provide the billing of parking services in Texas and California.
MobydoM and eTelcharge will partner to create an innovative and efficient payment option, based on MobydoM's US patented technology and eTelcharge's host of payment systems to fully integrate the system for municipalities nationwide. The signed letter of intent (non-binding) will allow eTelcharge exclusivity to provide the billing of parking services in Texas and California.
The MobydoM/eTelcharge Solution
Better For Drivers - Best for Parking ProvidersParking consumers will activate a new account with eTelcharge by placing a simple phone call. Once the account is activated, the consumer can park, pay with his cell phone, and the charges will be billed monthly. Securing funds for the municipality and providing the ease of this payment option for consumers can be an explosive combination.
This easy parking payment method -- no searching purse or pocket for change, no running to the pre-pay machine when your time's run out -- charges drivers only for the time they actually parked. Drivers are billed monthly.
For the municipality this solution helps maximize parking payment while simplifying the collection processes itself. It significantly reduces fines -- and the expensive process of trying to collect fine payment. And it also helps the ongoing move towards more efficient, technology-backed services.
"This is a win-win situation for all," stated eTelcharge's CEO Carl Sherman. "With such consumer and provider benefits our company feels sure that this solution will be readily adopted by the marketplace."
"This joint venture represents a great strategic move aligning ModydoM with a strategic partner like eTelcharge," MobydoM CEO Amos Shattner added. "We are positioning ourselves with key corporations who understand our business model and level of convenience we bring to consumers. eTelcharge understands and demonstrates the same consumer concerns we have. It's a perfect partnership," Shattner concluded.
The implementation of this concept is believed to be the first of its kind in Texas and California.
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