Parcxmart Technologies issues 2000 plus cards in New Haven

John Regan, President and CEO of Parcxmart Technologies, Inc, an offline electronic payments company, announced today results of the company’s program in New Haven, Connecticut. “The present annualized growth rate will outpace the use of coin and cash in less than 5 months and establish the Parcxmart™ Card as the first smart card in North America to achieve over fifty percent market share for an on-street parking operation. This is great news for merchants, cities, and consumers who are adopting our offline payment standard as a fast, secure, and convenient alternative to cash, credit, and debit,” said Regan.

“People are using the New Haven card because of its convenience at parking meters, and are finding it valuable for other small dollar transactions at merchants throughout the city,” said New Haven’s Department of Traffic and Parking Director Paul Wessel. “The merchants win with efficient transaction processing rates, increased store traffic, and Parcxmart commissions. And finally, the entire city benefits because this new technology is both easy to use and saves us substantial money."


The following results are based upon transactions in the last 30 days:

1. New card loads are averaging $25.83
2. Reloads from existing cards are averaging $31.43
3. Average merchant purchase is $5.44

“We are very excited about the local value and economic development that we are delivering to the city, the consumer, and the merchant as we substantiate that the Parcxmart™ Card mitigates identity theft and removes fraud from the system,” said Regan. “Early results prove that the Parcxmart™ Card carries value to all its constituents – cities, consumers, and merchants - and is viewed by many as “Cooler than Cash.”

About Parcxmart Technologies, Inc. (www.parcxmart.com)

Founded in 2003, Parcxmart is an offline electronic payment firm specializing in small dollar transactions with its initial focus on the on and off- street parking market. The Parcxmart solution offers a smart card payment program that combines secure transactions, multi-party settlement, and interoperability among participating cities, merchants, and consumers throughout its entire payment network.