EasyPark Gains Momentum in France With 13 Municipalities Signed

On Track Innovations Ltd. today announced that EasyPark adoption in France is gaining positive momentum with 13 signed municipalities by the End of Q1, for a combined population of over 850,000 people. The project is expected to start generating meaningful revenues starting the second half of the year, which is earlier than originally anticipated. France represents one of the largest markets for parking payment in Europe with about 460 million Euros in annual turnaround and 3 million parking spaces.
EasyPark is OTI's patented in-vehicle electronic parking meter. It represents a win-win-win solution, providing municipalities a user friendly, cost-effective, easy to implement solution to generate additional income from parking revenues. EasyPark provides consumers and city residents an easy to operate, pay by the minute solution and the operator with a business model where revenues are generated from product sales and recurring fees.

PARX France, PARX's subsidiary, is responsible for the marketing and implementation of EasyPark in France, where the EasyPark product is sold under the brand name Piaf. The business model in France is such that revenues are received each time an EasyPark device is sold or loaded. Loading the EasyPark can be done via a secured web site or at different retail locations.

Oded Bashan, Chairman & CEO of OTI said: "EasyParkTM is an easy-to-use, cost effective solution that requires minimum infrastructure investment, which makes it an attractive parking payment tool for municipalities for on-street parking and parking lots worldwide."

Using Piaf the driver pays only for the actual parked time. To activate Piaf the driver turns on the contactless unit and places it in the car window. Upon returning, the driver turns the device off. This creates a uniquely convenient user experience by eliminating the need for cash, change, and saving the time looking for parking meters. Piaf can be used for both on-street parking payments and for parking lots. Piaf provides detailed reports to the municipality in order to better manage and monitor parking patterns across town. The parking system is able to support multiple rates, cities, tariffs in a modular, scalable and easy to implement way.

EasyPark system is the largest field tested in-vehicle parking meter implementation of its kind with more than 30 cities and 700,000 users around Israel. OTI and PARX have additional EasyPark projects in Italy and Bermuda as well.

About OTI

Established in 1990, OTI designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking and loyalty programs. OTI has a global network of regional offices to market and support its products. The company was awarded the Frost & Sullivan 2005 and 2006 Company of the Year Award in the field of smart cards.

About PARX

PARX Ltd. is a subsidiary of On Track Innovations Ltd. responsible for marketing, operating and distributing advanced parking solutions, including the EasyPark TM product, in international markets.


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