Hampton Falls, NH – October 1, 2004 --- John Regan, President of Parcxmart Technologies™ announced today that the City of San Jose is exploring a pilot program with Parcxmart Technologies™ and Duncan Parking Technologies that would provide a secure and convenient payment system for both municipal parking and retail purchases benefiting the citizens of San Jose and the city’s many visitors.
Parcxmart™ Cards With Duncan e-Purse Meters“With this innovative technology, San Jose can claim that it will have in place one of the most comprehensive multi-application smart card parking payment systems in the United States,” said James Helmer, San Jose’s Director of Transportation.
San Jose’s Department of Transportation is evaluating a pilot program for the Japantown Business District where all of the district’s single-space parking meters will receive a new parking meter mechanism that will accept and securely process Parcxmart smart card transactions. Duncan Parking Technologies, Inc., a leading manufacturer and supplier of parking meters and related management systems, is developing parking meters that incorporate Parcxmart Technologies’ turnkey smart card payment platform as well as coins. Parcxmart Technologies™, Inc., an information technology company specializing in smart card payment solutions for municipal parking operations, will provide a cryptographically-secure and accurate way of collecting, processing and receiving revenues from on-street parking meters.
“What makes this pilot program in San Jose so significant is that it is a smart card parking program that involves the city, our local merchants and two nationally recognized firms. Parcxmart cards can also be sold through local merchants who will benefit from this new revenue stream. The ready access of the Parcxmart cards through the merchants will make using these cards to pay for parking convenient to people who park in Japantown. This is an excellent example of how the city and its local businesses can work together to provide improved services via practical and low-cost innovative solutions” said Helmer.
The Parcxmart solution is the first turnkey smart card payment platform linked to Electronic Funds Transfer (EFT) networks, retail merchants, and merchant banks on behalf of municipalities and the commuting public. A Parcxmart smart card has electronic value loaded using cash or a debit/credit card processed via existing EFT networks, just as any other over-the-counter purchase using a debit or credit card today. The consumer inserts the Parcxmart card into the Duncan meter and pays for parking. All data management and revenue disbursement operations associated with the smart card usage are managed by a bank. The Parcxmart system meets the rigorous security standards established by global banking payment systems. The parking authority is reimbursed for revenue spent at city parking meters on a predetermined settlement schedule. Access to purchasing and loading value to the Parcxmart cards is through a network of local merchants that benefit from commissions generated by selling and reloading dollar value on the cards.
“The significance to a municipal parking authority of having meters that are ready to accept smart cards as payment is that they have a complete parking solution, one that can immediately generate revenues from a secure financial transaction-processing engine designed specifically for smart card payment platforms,” said David Dull, CEO of Duncan Parking Technologies.
“Based on proven smart card technology, coupled with a unique transaction platform, Parcxmart Technologies is proposing to provide San Jose’s municipal parking operation with an electronic payments solution that is an easy to use and convenient alternative to coins,” said John Regan, President of Parcxmart Technologies. “The benefits of offering smart card meters to a parking authority are that operating and collection costs decrease while audit control increases. Merchants benefit because they can generate store traffic and income by selling the cards and reloading value on the cards. The interoperability of these cards means that consumers can use the cards for parking and for purchasing items within participating local stores.”
The pilot program is proposed to last for a period of four months after which the City of San Jose and Parcxmart will complete a qualitative assessment.