How to Capture 100% of Your Parking Revenue

1 min read

Originally published on Parking Industry Insights

As someone who oversees the performance of your organization's parking facility, you may be asking yourself: how can I maximize my parking revenue capture?

The short answer is, it largely depends on the type of parking equipment you choose to invest in and the support services you choose to protect it with.

Investing in a gated parking solution

Gated parking systems, commonly referred to as Pay-on-Foot, are the number one way to capture your parking revenue. The initial investment can be substantial, but the return on that investment will never disappoint. A gated system leaves zero room for lost revenue since it gives drivers only one option if they want to exit your parking facility: to pay for parking.

Payment options

A good system provides your customers with simple intuitive ways to pay for parking. Your customers will appreciate it If you make it easy to pay for parking. Payment basics include cash and credit card payments. But look for advanced solutions such as EMV-certified tap-and-go payments for debit and credit and mobile wallet and integrated mobile app payments.

Protecting your operation with ongoing maintenance and support

A proper technology support program is an essential part of your investment. Don’t let cost deter you. A less advanced support solution will lead to greater problems such as a shortened system life cycle and revenue loss.

References

Tse, B. (2020, August 21). How to Capture 100% of Your Parking Revenue [web log]. https://www.parkingindustry.ca/parking-revenue/how-to-capture-100-of-your-parking-revenue?rq=emv.

Ritacca, J. (2021, April 6). A Guide to PCI Compliance Levels [web log]. https://www.parkingindustry.ca/parking-revenue/a-guide-to-pci-compliance-levels.