DUNCAN PARKING TECHNOLOGIES AND PARCXMART TECHNOLOGIES PARTNER TO DEVELOP FIRST U.S. PARKING METERS WITH SECURE SCA

“This partnership marks the first time in the U.S. that a parking meter can be installed and instantly ready to accept secure smart cards as payment,” said David Dull, CEO of Duncan Parking Technologies. “The significance to a municipal parking authority is that once the meters are installed they have a complete parking solution, one that can immediately generate revenues from a secure financial transaction-processing engine designed specifically for smart card payment platforms.”

Duncan will manufacture the parking meters that incorporate Parcxmart Technologies’ turnkey smart card payment platform. Using proprietary e-Purse technology, Parcxmart’s financial transaction-processing engine provides a secure and accurate way of collecting, processing and receiving revenues from on-street and off-street parking locations.

“Based on proven smart card technology, coupled with a unique transaction platform, Parcxmart Technologies, Inc. offers the most cost effective and universal choice for municipal parking operators who want to provide their customers with an alternative to coins and at the same time gain from the benefits of an electronic payments solution,” said John Regan, President of Parcxmart Technologies. “The benefits of offering smart card meters to a parking authority are that operating costs decrease while audit control increases. By removing coins from the collection process, cities have greater control over revenue growth.”

The Parcxmart solution is the first turnkey smart card payment platform linked to Electronic Funds Transfer (EFT) networks, retail merchants, and merchant banks on behalf of municipalities and the commuting public. A Parcxmart smart card has electronic value loaded using cash or a debit or credit card and processed via existing EFT networks, just as any other over-the-counter purchase using debit or credit is done today. The consumer enters the Parcxmart card into the Duncan meter and pays for parking. All funds management and movement associated with the value of issued cards is managed by a bank to whom the advices are sent. The parking authority is reimbursed for revenue spent at city parking locations on a predetermined revenue schedule. Access to purchasing and loading value to the Parcxmart cards is through a network of local merchants that benefit from commissions generated by the dollar value loaded on the cards.

About Duncan Parking Technologies, Inc.

Duncan began in 1936 as a designer and manufacturer of one of the first single-space parking meters. Since then, Duncan has gained market dominance and has a majority of the over approximately 3 million parking meters on the streets of North America, as well as thousands more around the world. The Eagle line of electronic mechanisms and the Phoenix multi-space products are examples of the latest in on-street and off-street parking technologies. Duncan has an extensive sales and distribution network globally.

About Parxcmart Technologies, Inc.

Founded in 2003, Parcxmart is an information technology company specializing in smart card payment solutions, delivering value to customers with its initial focus on Municipal parking operations. In addition to Duncan, its technology partners include Ingenico and Verifone, the recognized world leaders in secure electronic payment technologies and transaction solutions; Smart Centric Technologies, the leading developers of secure e-Purse and related smart card-based applications; and One Card Solutions, a developer and integrator of smart card solutions for on-line and off-line transaction devices. The Company has agreements with major banks in Europe and North America. These partnerships enable Parcxmart Technologies to offer a smart card parking program that combines secure transaction management, interoperability among cities and multiple merchants, interoperability with existing payment networks and has the potential for other multi-application exchanges.

Contact details:

Peter Littell
Parcxmart
413-665-3519
peterlittell@comcast.net

Pam Yount
Duncan Parking Technologies
(870) 391-6270
pamy@duncanparking.com