MILWAUKEE and WALTHAM, Mass., Jan. 16 /PRNewswire/ — Duncan Solutions, Inc., and Peppercoin, Inc., today announced that the City of Detroit is among the first wave of cities to let drivers pay for on-street parking with their credit or debit cards instead of searching for loose change. Detroit recently replaced old, traditional parking meters with 175 new multispace meters, covering nearly 1,225 parking spots. This is one of the largest deployments of parking paystations that accept credit cards in the United States.
The new meters, which began accepting credit and debit cards today, are from Duncan Solutions, the largest provider of on-street parking solutions in the U.S. The company has partnered with Peppercoin, a small payments technology company, to enable the paystations to accept and process credit and debit cards for payments, and make it possible for drivers to check their parking balances at the meter or online. Each of the new multispace meters will cover up to 10 parking spaces and it is estimated that Detroit motorists will generate 300,000 credit and debit card transactions in the first year of deployment.
Peppercoin’s unique technology platform, the Small Payment Suite, allows companies such as Duncan Solutions to card-enable traditional cash transactions, increase revenues and improve profitability. Peppercoin helps companies capture a larger market share by offering a variety of payment options like prepaid, subscription and pay-as-you-go pricing to best meet customer needs.
“This is a significant win for Peppercoin and Duncan Solutions, the scope of which clearly demonstrates the scalability of the Peppercoin Small Payment Suite,” said Mark Friedman, president and CEO of Peppercoin. “People want to pay for everyday purchases with their credit or debit card-parking is no different. Peppercoin and Duncan Solutions combine domain expertise and a unique small payments technology platform to deliver a best-in-class solution for municipalities.”
Untapped Market Opportunity
A recent survey from Ipsos Insight, sponsored by Peppercoin, revealed that nine percent of consumers used a credit or debit card to pay for parking (either at a meter, garage or lot). However, 28 percent of the same respondents indicated that they would use a credit or debit card to pay for parking related purchases if they could-a difference of 19 percent, which translates into about 38 million American consumers. Additionally, 40 percent of respondents ages 18-34 indicated that they would use a credit or debit card for this kind of purchase if they could. These numbers indicate that this is a significant untapped opportunity for municipalities.
“Partnering with Peppercoin helps Duncan Solutions better serve municipalities like Detroit by providing flexible offerings, such as profitable card acceptance, to make parking as easy as possible,” said Mike Nickolaus, Chief Executive Officer of Duncan Solutions.
Several cities in the United States have already benefited from the Duncan/Peppercoin relationship, with card-enabled meters installed in Las Vegas and Oklahoma City. Additionally, Tybee Island, Ga., will implement 37 card-enabled multispace pay stations for public use in early 2007. The two companies are also involved in several large trials in major U.S. cities.
About Duncan Solutions
Duncan Solutions, Inc. is the largest company of its kind offering a single source for single and multispace parking meters, parking citation issuance handheld computers, citation processing and debt collection services. The company specializes in providing integrated parking management solutions to a wide variety of clients including municipalities, universities and major airports in the U.S. as well as 60 countries worldwide. For more information, please visit www.duncansolutions.com.
About Peppercoin, Inc.
Peppercoin is a small payments technology company transforming routine card transactions into new revenue opportunities. Peppercoin’s platform accelerates the cash-to-card transition, getting customers to come back more often and spend more using the cards in their wallets — all while costing merchants less. Only Peppercoin provides a loyalty-rich PCI-compliant small payments suite for all payment models, including prepaid, subscription and pay-as-you-go with Intelligent Aggregation. For more information, please visit www.peppercoin.com.