Precise ParkLink introduces MasterCard PayPassTM technology
Drivers can now enjoy the speed and convenience of contactless payments where they park
Toronto, May 12, 2011 – Precise ParkLink Inc., announced a partnership with MasterCard and Moneris Solutions that will make MasterCard's PayPass Tap & Go™ technology available to its payment terminals across Canada today, including more than 160 parking lots in the Greater Toronto Area.
Peter Groccia, President of Precise ParkLink, welcomes the concept as a way to add speed and efficiency to the operations of his many meters installed across Canada.
“Precise ParkLink continues to provide cutting edge technology to our clients, and ultimately to the parking public,” Groccia said. “We are very happy to partner with progressive organizations like MasterCard, to provide the most secure and reliable payment options available on the market. We will always put technological integrity ahead of all else in our offerings. MasterCard's PayPass technology provides a simplified payment method, in a proven and secure manner.”
The MasterCard PayPass system will be integrated over a three-year period and the contactless payment technology will be included in existing payment terminals, such as parking lots and street meters. Tests of the integrated terminals were completed in January, with public integration already underway.
“With its easy Tap & Go technology, MasterCard PayPass provides a faster and more convenient way for Canadians to pay for everyday purchases from parking to gas to their morning coffee,” said David E. Orzel, Head of Market Development, MasterCard Canada. “Whether it's through a PayPass-enabled MasterCard credit card or mobile phone, MasterCard is providing consumers with a better, faster, and quite frankly cooler, payment experience.”
Moneris Solutions is a key partner in the achievement of the integration. Moneris is Canada's largest provider of payment processing solutions and will be responsible for making the transaction processing available to Precise ParkLink.
“We are excited to see this partnership between MasterCard and our valued merchant, Precise ParkLink, and what it means for consumers in terms of value-added convenience when paying for parking.” said David Ades, Senior Vice President of Sales and Marketing for Moneris Solutions.
How PayPass Works
Consumers tap their PayPass-enabled MasterCard credit card or device (such as a PayPass-enabled mobile phone) on a specially equipped merchant terminal, eliminating the need for cash, as well as the need to hand their card or device over to a clerk.
Consumers who use a PayPass-enabled card or device enjoy the same protections from fraud as they would with conventional MasterCard payments. PayPass is supported by robust, multi-level security protections, including the encryption of PayPass radio frequency transaction transmissions, and the multiple security protections of the MasterCard payment system.
About MasterCard PayPass
MasterCard PayPass is ideal for traditional cash-heavy environments where speed is essential, and has led the way in bringing contactless technology to consumers. With this partnership, the parking industry will join other categories such as quick-serve restaurants, grocery stores, drug stores, gas stations, vending machines, convenience stores, sports arenas, movie theatres, transit systems, taxis in offering contactless payment technology to their customers. There are more than 21 million PayPass-enabled MasterCard creditcards and devices in use, at close to 17,000 merchant locations in Canada. For more information about MasterCard PayPass and a full list of participating merchants, visit www.mastercard.ca.
About Precise ParkLink
Established in 1988, Precise ParkLink is the fastest growing parking management services company in Canada and is the largest Canadian-owned and operated national parking services and solutions provider. Precise ParkLink is the Canadian company behind the “Pay and Display” machines that revolutionized both on and off street parking. We process over $800 million of parking transactions annually, and we are the only Parking Services firm that is Level One Service Provider for the Payment Card Industry Data Security Standards (PCI-DSS). This is the highest standard for Payment Card Industries mandatory regulated requirements, in order to process card payments on behalf of clients. The company has demonstrated experience providing parking services for private institutions, colleges and universities, hospitals, municipalities and airports across Canada and the United States. The company provides automated parking services, such as “Pay On Foot” and “Pay and Display” systems, as well as management services. Our revenue control and auditing procedures are some of the most robust in the industry. Precise ParkLink has managed its pace of growth every year for over 20 years and is expanding across North America in many major cities. Our gross revenue from managed services over the last 3 years has exceeded $300 million. For more information, please visit our website at www.preciseparklink.com.
About MasterCard Worldwide
As a leading global payments company, MasterCard Worldwide prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2010, $2.7 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 23 billion transactions each year and has the capacity to handle 160 million transactions per hour, with an average network response time of 130 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPassTM and MasterCard inControl®. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com. Follow us on Twitter: @mastercardnews.
About Moneris Solutions
As one of North America's largest providers of payment processing solutions, Moneris offers credit, debit, wireless and online payment services for merchants in virtually every industry segment and processes more than three billion transactions annually. Through its Ernex division, Moneris offers electronic loyalty and stored-value gift card programs. With more than 350,000 merchant locations, Moneris provides the hardware, software and systems needed to improve business efficiency and manage payments. For more information please visit www.moneris.com.
Ken Rose, Business Leader, New Business Development, (left), David E. Orzel, Head of Market Development, of MasterCard Canada (centre) and Peter Groccia, President of Precise ParkLink introduce MasterCard PayPass contactless payment technology to the parking industry, making it easier and faster for Canadian drivers to pay for parking.
For more information, please contact:
1-888-783-7275 ext. 254