Parking: the Trends Merchants Must Be Attune to

  • Anthony Wicks, Key Account Manager at Self-Service – Parking & EVC at Worldline

  • 18.05.2022 05:00 pm
  • #payments , Anthony Wicks is the Key Account Manager, Self-Service – Parking & EVC at Worldline. With over 25 years of experience, Anthony is an experienced Key Account Manager and Direct Sales professional with a demonstrated history of working in the information technology and services industries. Having worked with Worldline for over 3 years, Anthony brings his skills in Sales, Partner Management and Pre-sales activities to deliver payment solutions, Point of Sale (POS) systems, and installation and deployment projects.

A multitude of factors, from the aftermath of the pandemic to a rise in living costs, have led to a decline in the number of cars on UK roads. Indeed, a report from the Department for Transport revealed there were 200,000 fewer licensed cars on the roads at the end of 2020 in comparison to the previous year, with approximately 24% of households having no cars at all. Attracting customers back to use their services – of which payment terminals are a key part – will be important for parking operators looking to generate a long-term source of revenue.

With local governments keen to promote public transport as a more sustainable means of travelling amid a climate crisis – although the number of cleaner electric or hybrid vehicles on the UK roads is rising, they remain unaffordable for many drivers for now – a further drop in car users is anticipated and parking merchants must make the necessary adaptions. Indeed, a more hybrid model of parking will become commonplace as the rise in the number of electric vehicles (EV) on the roads initiates an inevitable crossover in space between traditional parking spots and EV charging points. 

Updating existing infrastructures

Thus, parking operators should be asking themselves what should they do to adapt to these changing circumstances. For instance, what measures must be undertaken to retrofit parking spaces for EV charging points and how can payment terminals seemingly cater for all the customers’ needs? Although some parking facilities do offer recharging services, not all do. Therefore, investing and installing the necessary infrastructure will be key for merchants looking to secure current EV drivers in their parking, as well as to attract new customers. 

Operators must also consider and/or implement measures to prevent customers from taking up a charging spot if they aren’t charging their vehicle, and rather using it as a parking space. This is not uncommon but may lead to a loss of revenue for the merchants in the future. As electric car sales soar, amid a general shortage of EV charging points, these spaces are becoming all the more valuable for parking merchants and considering a fine scheme for system abusers may not go amiss.

Resilient payment system

Having an agile and resilient payment system in place is key for merchants, as it boosts the prospect of a seamless and convenient customer experience. By offering an invisible payment service, where an individual forgoes the need to enter a PIN number and rather pays through contactless means, either through a card or smartphone/watch, operators are providing a must-have in any modern day payment experience. Many don’t even carry change in their pockets anymore.

It also allays the need for any physical contact – a concern elevated into the public consciousness a couple of years ago as a result of the pandemic, and which still remains very prevalent today. Parking technology is set to shape the future for the industry and it will undoubtedly become a crucial way of generating and securing revenue. Payment technology will develop beyond existing tools, such as Google Pay and Apple Pay, and it is likely to enter the realms of vehicles carrying payment capabilities themselves. Companies that embrace these technological developments will be best placed to remain ahead of the game. 

 

Related Blogs

Other Blogs