Page 65 - Traffic infratech magazine

PARKING

capitalise on this model and deliver technologies such as tokenisation
the same amount of convenience, to reduce the amount of sensitive
transparency, security, and scalability. information present during
Rather than parking operators transactions.
having to implement a dedicated, • Global reach: PaaS providers
vendor-specific technology can work together with financial
delivered via hardware which has institutions to arrange international
limited customisation options, agreements and enable car park
these stakeholders can employ an operators to have access to
outsourced, end-to-end, cloud-based international markets using the
payment processing environment. same platform without an additional
How does PaaS benefit the process. The PaaS provider would
make all the arrangements from
parking industry? all perspectives, including currency
In order to deliver on all their exchange, legal agreements and
customer needs, parking operators connectivity in order to ensure that
need to enable multiple types of the transaction between a client
payments that cover all grounds in and a parking operator remains the
terms of parking scenarios; on-street same.
or off-street, short-stay or long-stay, • Reporting: As all payment
ad-hoc, or recurring parking. PaaS is methods would be serviced by a
an excellent way of providing such a single provider, it would be easy to
solution, as payments can be delivered collate all transactions into a single
via multiple channels through a set of place without any additional effort
application programming interfaces or or third-party software. By analysing
directly to banks.
the information gathered through
Potential benefits for various payment methods, car
operators: park operators can make informed
decisions regarding commercial
Below are described some potential
benefits for operators employing PaaS: opportunities and their payment
options.
• Reduced transaction costs: SaaS • Flexibility between operators:
and PaaS use subscription models, As PaaS does not require dedicated
which are generally a flat-fee based hardware or software, making the
Payments-as-a-Service on the services provided. They switch between operators can be
(PaaS) don’t come with hidden charges or quick and efficient at a minimum
other taxes applied per transaction.
Payments-as-a-Service is an cost. A Payment-as-a-Service model
adaptation of the widely popular • Single provider: Rather than can cut down the transition period
technology, Software-as-a-Service working with multiple service and cost substantially, ensuring
(SaaS). PaaS uses cloud-based providers and arranging different a competitive market where
payment methods, a PaaS provider
infrastructure to provide a single can offer an end-to-end solution service providers deliver the best
point of contact between the parking with all types of payments experience for a reasonable price.
operator and the payment networks. included. This increases visibility of On-street parking
SaaS has evolved in such a way transactions and makes it easier Parking on the street faces numerous
to deliver a light and convenient to deploy or implement new challenges due to congestion and a
experience of accessing services; most technologies. high number of vehicles compared to a
of them being available through web • Security: Cloud-based solutions relatively low number of parking spots.
pages or mobile applications. PaaS can offer enhanced security and deploy The lengths of parking also varies

www.trafficinfratech-com-500653.hostingersite.com June-July ’19 / TrafficInfraTech 65