The entire parking industry is being disrupted by new economics realities and technological change. Asset owners, property managers and real estate developers are looking for ways to upgrade their parking facilities for safety and ease of access to enhance the customer experience and lower costs. Customers are becoming increasingly confident using mobile devices to complete transactions. That’s where gateless parking comes in.

Ben Montgomery, President of Premium Parking, talks about why now is the perfect time to join the gateless parking revolution.

1.      MOBILE PAYMENT CONFIDENCE:

There is an increasing amount of people that are comfortable using their mobile phone to complete transactions. This is a trend that has been happening in the parking industry for over a decade but has been accelerated by the COVID pandemic. The need for contactless ways to complete a transaction has become not only convenient, but a matter of health safety.

2.    LICENSE PLATE RECOGNITION:

Machine Learning as it applies to Optical Character Recognition (OCR), or as it is called in the parking industry, License Plate Recognition (LPR), has changed the way cars can be validated. LPR has greatly increased the ability for companies to quickly and efficiently surface the license plates in a population that are valid or invalid.

3.    CLOUD INFRASTRUCTURE:

The hurdle of spinning up new products and features is becoming a thing of the past. As you build software on a solid cloud infrastructure, it becomes easy to deploy new features and move data around to ensure that you’ve got an incredibly accurate list of plates that are valid or plates that haven’t paid for their parking. It also provides a high quality experience to the customer, decreasing any friction. We’ve leveraged partners like Stripe and Twilio who have used cloud infrastructure to create innovative payments and communications platforms.