Parcxmart Technologies™ announces positive card usage statistics

“The Parcxmart™ Card for parking and small dollar transactions is producing stellar results in its early trials in San Jose and New Haven,” said Regan. “The card usage statistics in our early trials support our value proposition. They validate consumer and merchant acceptance in a cashless small dollar transaction payment system.”

Approximately 1,300 cards have been issued in New Haven, and 500 cards have been issued in San Jose, and of the cards used the statistics are as follows:

1. New card loads are averaging $31.67 per load
2. Reloads from existing and active cards are averaging $28.67
3. Average merchant purchase is $5.97

“We are very excited about the value and economic development that we are helping deliver to the city, the consumer, and the merchant,” said Regan. “The Parcxmart™ card product attributes – fast, convenient, economical, and secure - are designed to meet the demand for cashless small dollar transactions. Early results prove that the Parcxmart™ Card carries value to all its constituents – cities, consumers, and merchants - and is viewed by many as better than cash.”

Duncan Goodall, owner of Moka a Chocolate Café in New Haven, an early merchant adopter of the Parcxmart card, said, “Most people seem to have a psychological barrier to using a credit card for anything below $10, and the Parcxmart card effectively fills that gap. Many of our customers consider it better than cash.”

“These trial numbers show that offering merchants a way to generate store traffic and offer their customers another easy way to shop is a winning combination,” says Mike Hammer, Heartland Payment Systems (HPS) Chief Marketing Officer. Parcxmart Technologies has a joint marketing agreement with HPS, an emerging leader in the payments processing industry, to offer their products and services to merchants in cities that adopt the Parcxmart ™ payment solution.