SOURCE: Digital Payment Technologies

Digital Payment Technologies

February 03, 2014 08:00 ET

Canadian Software Company Digital Payment Technologies Joins T2 Systems

Acquisition Brings Two Leading Companies Together to Accelerate Technological Innovation Within the Parking Industry

VANCOUVER, BC--(Marketwired - Feb 3, 2014) - Digital Payment Technologies (DPT), a leading provider of multi-space pay stations and enterprise software parking solutions, today announced the closing of its acquisition by T2 Systems, a technology focused parking system provider. The transaction was completed on January 31st, 2014 after receiving shareholder approval.

Under the new enterprise, T2 and DPT will continue to operate independently, supporting their respective products, services and solutions. DPT will maintain its open application architecture and will focus on its commitment to municipalities, operators and universities. Brands, products, services and relationships will remain unchanged with the acquisition, and DPT will stay in British Columbia, Canada.

Operational management at Digital Payment Technologies will remain in place, and David Sparks, president and CEO of T2 Systems, will assume the role of CEO for both companies. John Fraissinet, who has served as DPT's CEO for the past two and a half years, and on its board of directors for seven years, will be stepping down.

"It has been an honor to work with such talented and dedicated employees and partners in delivering cutting-edge parking solutions to our customers," said Fraissinet. "The acquisition brings together two of the parking industry's leaders, whose complementary technologies will provide an enhanced solution portfolio to customers, resellers and partners. T2 is a long-standing and trusted partner with whom we already share more than 80 customers, and we are excited about the products, services and support we'll deliver under this new enterprise."

"With the need for data these days, having all of the information makes your life so much easier. The combination of T2 and DPT will help us pull together our parking-related information, including data from over 1,000 DPT pay stations. It is the perfect combination," commented Maria Irshad, CAPP, assistant director for the City of Houston Parking Management Division.

DPT and T2 customers are encouraged to contact their respective company representatives for further questions.

For more information, please visit or

About Digital Payment Technologies
Digital Payment Technologies (DPT) is a leading provider of multi-space pay stations and enterprise software parking solutions. DPT products provide complete financial tracking, control, and reporting on parking revenue collected by cities, municipalities, universities, private operators, and national parks, from customer payment through to bank deposit.

About T2 Systems
Started in 1994, T2 Systems is a technology-focused parking system provider with deep roots in the evolving parking industry. This commitment is evident in T2's quality products and services, thought leadership and strong customer relationships. With its proven, unified solutions, T2 Systems is trusted by close to 400 organizations in the US and Canada including universities, cities, towns, hospitals and parking operators. T2 Systems is headquartered in Indianapolis, Indiana and has virtual offices throughout the United States and Canada. For additional information about T2 Systems, Inc. products and services, visit

For more information or sales inquiries on DPT, please call 1-888-687-6822 or visit

Contact Information

  • Media Contact:
    Chris Warfield
    Sterling Communications for Digital Payment Technologies