PayByPhone's 12 Million Consumers Drive Over $300M of Parking Transactions for Cities Across North America and Europe

NASHVILLE, TN--(Marketwired - May 17, 2016) -  As the world's leading parking payment provider processing more than $300 million in payments annually, PayByPhone is fully committed to the consumer experience by providing best in class payment solutions for the smart parking industry, a $30B market in North America alone.

Year over year, PayByPhone's global transaction volume has grown by over 30%. In the past year, the company has continued to expand its global partnerships across North America and Europe adding over 2.5 million registered users to its platform resulting in a total of more than 12 million subscribers to the service. Within the United Kingdom, PayByPhone successfully deployed 15 lots with National Car Parks (NCP) for Transport for London, the government body responsible for the London Underground. The addition of Paris (155,000 spaces) has led to a 155+% growth in transactions in France and this momentum has translated to over a dozen new French cities across the country adding over 25,000 spaces. Geneva, Switzerland, a recent PayByPhone deployment, continues to grow their adoption, recently seeing a 16% increase.

In the last 6 months, PayByPhone has signed over 25 new deals within North America resulting in more than 50,000 spaces with existing and new clients as well as 6 new universities including UNLV and California State University. In addition to new clients signing on to the service, existing clients such as the Miami Parking Authority recently reported that 65% of all on-street parking revenue is generated via PayByPhone, the highest mobile payment adoption rate of any major city in North America. In Vancouver, Canada where the company was founded, the PayByPhone service is used more than a million times a month.

PayByPhone will be providing an exclusive preview of their all-new app at this year's International Parking Institute (IPI) Conference & Expo. Kush Parikh, President and Chief Executive Officer of PayByPhone, and the PayByPhone team will be sharing these new and innovative features aimed at further streamlining the mobile pay parking experience for both users and parking operators. An official launch of the new app is expected to make its way to the general public by summer 2016.

The PayByPhone exhibit (Booth #929) will on display at the IPI Conference and Expo May 17 - 20 in Nashville, TN.

ABOUT PAYBYPHONE

PayByPhone is one of the fastest growing mobile payments companies in the world processing more than five million parking, tolling, public transit, bike share and EV charging transactions a month in cities across Europe and North America. Through the company's mobile web, smartphone and smartwatch applications, PayByPhone helps millions of consumers easily and securely pay for parking and other transportation services without the hassles of waiting in line, having to carry change or risking costly fines.

Many of the largest and most complex parking operations in the world use PayByPhone including San Francisco (30,000 spaces), Massachusetts Bay Transportation Authority in Boston (25,000 spaces) and Seattle (12,000 spaces).

By helping transportation agencies and parking operators tap into the latest advancements in secure mobile payment, Big Data, and location technologies, the company helps them reduce infrastructures costs while increasing revenue and compliance through the delivery of services integrated with consumers' always on the go, mobile digital lifestyle. To learn more, visit us www.paybyphone.com or download the app for iOS, Android, and Blackberry devices.