Can License Plate Recognition (LPR) Technology Enable Dynamic Pricing Models?

Q&A with Systems Engineer, Jai Bansal.

2 min read.

The parking and mobility industry is evolving, with intuitive technologies like License Plate Recognition (LPR) leading the way. LPR technology offers full insight into your operation, helping you make strategic decisions for effective management and seamless parking experiences.

In this exclusive interview, Jai Bansal, Systems Engineer at Precise ParkLink dives deeper into how LPR technology can enable dynamic pricing models at your facility.

Q. Can License Plate Recognition (LPR) Technology Enable Dynamic Pricing Models?

A. Dynamic pricing is a pricing strategy that enables parking operators to adjust rates based on demand, events, or increased traffic. When integrated with Precise ParkLink’s business intelligence platform and LPR technology, you can leverage real-time data visualization and reporting to deploy strategic pricing models that optimize your operations.

Understanding real-time activity, including when, where, and how long your customers park, can help you effectively manage your pricing strategy and set rates that maximize revenue.

Connect with Jai Bansal on LinkedIn.

 Want to learn more? Watch the full interview below!