COVID-19 Accelerates Cashless Parking Operations
2 min read
Originally published on Parking Industry Insights
There is one common theme the pandemic has imposed on all businesses, and that is accelerated digitization. Despite the challenges of the pandemic, industries across the globe have been pushed to digitize at a speed that would have taken years to otherwise achieve. Businesses have been put to the test, and their success has been determined by their ability to adapt to rapidly changing needs of the consumer. One thing that has kept us going however, is leveraging technology to eliminate physical contact, and process interactions with speed, security and convenience.
This is especially prevalent with financial transactions. Since the start of the pandemic, the World Health Organization (WHO) has been advised the public to limit cash transactions and minimize contact with public surfaces. Many businesses have stopped accepting cash and have instead relied on cashless payment options. This has now become the expectation and norm among consumers — even when paying for parking.
Prior to the pandemic, cashless parking technology was introduced to the market. Tap-and-go payment methods, mobile payment apps and cashless pay stations such as Skidata’s skiosk Lite were considered an advanced option. The sudden emergence of this pandemic, however, has accelerated the demand for cashless payment technology to an all-time high.
The benefits of accepting cashless payment methods in parking facilities may seem obvious, but let’s look further into how they can protect your visitors and your organization, as well as determine the success of your parking program.
First and foremost, accepting contactless payment methods helps reduce the risk of COVID-19 and increase consumer confidence in safety. This is achieved by simply eliminating physical payment touchpoints, as currently done in all facets of society today. In addition to preventing the spread of COVID-19, touchless payment options make visitors feel safe and will be more likely to return to your parking facility.
With touchless payment options comes improved operational efficiencies. Quick tap-and-go transactions and mobile payments accelerates traffic flow, getting people where they need to be easier, safer and faster. In addition to improved customer experiences, many organizations benefit from choosing to go cashless simply for reduced operational costs, increased security and accuracy of financial reconciliation.
The rapid and widespread adoption of touchless payment methods throughout parking facilities has elevated customer experiences and furthered advancements in the industry. It is clear that digital payment options are no longer the way of the future, but instead, the way of today.
References:
Gardner, B. (2020, March 2). Dirty banknotes may be spreading the coronavirus, WHO suggestions. The Telegraph. Retrieved from https://www.telegraph.co.uk/news/2020/03/02/exclusive-dirty-banknotes-may-spreading-coronavirus-world-health/
Business Development and Strategy Officer, Precise ParkLink