SOURCE: PXT Payments

PXT Payments

PXT Payments

April 27, 2010 16:18 ET

PXT Payments and Digital Payment Technologies Forge Partnership to Bring Cities Smart Parking Meters, Merchant Loyalty Debit Cards

Transactions Have Wireless Settlement, Smart Debit Cards Create Local Currency to Boost Local Economies

VANCOUVER, BC and HAMPTON FALLS, NH--(Marketwire - April 27, 2010) -  Digital Payment Technologies (DPT), a leading manufacturer of parking management solutions and technology, and PXT Payments (PXT, formerly Parcxmart), an electronic payments company, have formed a partnership to bring smart parking meters and merchant loyalty smart debit cards to cities nationwide. Ft. Lauderdale, FL, and Brookline, MA are the first municipalities to benefit.

DPT pay stations can be equipped to accept PXT's unique chip-based and secure smart debit cards. PXT provides tokenless parking transactions with wireless settlement, but the cards are smarter than just that. In the past, smart cards have been merely cards that pay for parking, essentially tokens in the form of a card. But the PXT smart debit card has built-in local merchant discount programs for loyal customers, and a credit card-like settlement process. This smart debit card effectively creates a local currency to be spent locally.

There are two advantages of this smart debit card over bank cards: The cards can be made for exclusive use in a single municipality or city Business Improvement District (BID), or standardized across a region. There are no limits. The cards are also a safe currency consumers can trust. Using chips instead of magnetic stripes enhances the security of the transaction.

"The new partnership reflects the maturation of the PXT smart card system, and the symbiotic relationship between parking and a local municipality's economy," said John Regan, CEO of PXT.

"With PXT, we look forward to providing value to the consumer and boosting local economies," said Alan Menezes, Digital's vice president for product management and marketing. "PXT's smart debit card is a convenient way to pay for parking that provides loyalty discounts for local merchants and restaurants, making this a win-win for both consumers and merchants."

"We look forward to the rollout of the PXT card in both our POM single space, and multi-space meters throughout Fort Lauderdale, and look forward to expanding the merchant network to make it as convenient as possible to get and use a card," said Diana Alarcon, director of Parking and Fleet Services in Fort Lauderdale.

PXT cards are available in Fort Lauderdale, FL, New Haven, CT, Bridgeport, CT, West Hartford, CT, Truckee, CA, and soon in Brookline, MA.

About PXT Payments
PXT Payments (PXT, formerly Parcxmart), is an electronic payments company specializing in smart debit card transactions and local merchant loyalty programs. The company operates its independent platform using secure, end-to-end 3DES encryption, eliminating the threat of identity theft. To complete settlement among all parties involved, PXT uses the Federal ACH payment system. PXT has been processing smart debit transactions daily since 2006. Visit www.pxtpayments.com

About Digital Payment Technologies
Digital Payment Technologies (DPT) is an innovative leader in the design, manufacture, and distribution of electronic parking meters, management software, and online services for the parking industry. DPT products provide complete financial tracking, control, and reporting on parking revenue collected by cities, municipalities, universities, parking management companies, private operators, and national parks, from customer payment through to bank deposit. In 2007, DPT was named Emerging Company of the Year by the British Columbia Technology Industry Association, and placed on Deloitte's Technology Fast 50 and Fast 500 lists for the second year in a row, as one of the fastest growing high technology companies in North America. Visit www.digitalpaytech.com

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