For parking operators, property owners, and property managers, the invisible threat of revenue leakage is a familiar challenge. Revenue loss may stem from human error, intentional misuse of parking, such as tailgating other vehicles, or limitations in parking operations. But what if we told you that your parking facility could automatically capture revenue that would otherwise be lost? ParqEx has addressed the revenue loss and leakage problems. Our robust combination of license plate reading cameras and our pay-on-exit payment system provides a solution to revenue leakage in your parking operations. Stop parking revenue loss with LPR and pay-on-exit tech from ParqEx!

The Problem: Parking Facility Revenue Leakage

Parking facilities, lots, and parking garages without robust access control systems or enforcement measures face the recurring problem of parking revenue leakage. Parking facility revenue leakage occurs when vehicles manage to leave the facility without paying for parking and take full advantage, and then some, of grace periods. More often than not, these cases go entirely unnoticed by parking management or parking operators, explaining why we claim it’s an invisible threat.

But even parking facility access control systems, like gate arms or ticket kiosk-based models, experience revenue loss. Tickets are “lost,” gate arms malfunction, vehicles tailgate paying vehicles, and enforcement is genuinely inconsistent. This is where we state: stop parking revenue loss with LPR & pay-on-exit tech from ParqEx! Our tech-driven solution is the immediate answer to the parking facility revenue leakage problem.

The ParqEx Answer: LPR + Pay-on-Exit

ParqEx’s access control parking license plate reading technology automatically captures images of every vehicle’s license plate upon both entry and exit of the parking facility in real-time. When this camera-operated access control system is combined with the pay-on-exit payment process, parking operators, owners, and managers can regain revenue control over their property.

Here’s LPR + Pay-On-Exit Works Together:

1. Vehicle Enters: Only pre-approved users (with payment information included in their profile on the ParqEx parking app) can access the property. The LPR system captures the license plate number and automatically logs these approved vehicles’ timestamps in real time. The User experience—there is no need for tickets or gates; the car is tracked by its license plate.
   
2. Vehicle Exits: The LPR parking system recognizes the plate, automatically calculates the parking duration based on entrance and exit timestamps, and immediately charges the driver based on pre-set rates for the exact duration of their stay.
   

This simple ParqEx automation eliminates potential loopholes and results in secure revenue control.

Real Results: Revenue Recovered in Real Time

One of our current properties has benefited from LPR and recently activated the ParqEx pay-on-exit feature. Since the property has utilized both LPR and pay-on-exit technology together, it has consistently identified 2-3 unpaid transactions daily, situations in which vehicles would have otherwise exited without payment. 

2-3 caught transactions per day already contribute to the property’s bottom line. However, during peak traffic periods such as weekends, events, or favorable weather seasons, that number can spike to 15-30 unpaid transactions captured and converted to revenue in just a single day! Before ParqEx’s property technology and pay-on-exit payment system, these vehicles would have left the property entirely unnoticed, leading to thousands of dollars in revenue loss for the property each month.

With ParqEx, any vehicle that leaves without payment will automatically be charged once the LPR camera detects that the car has exited the property. Stop parking revenue loss with LPR and pay-on-exit tech without adding extra staff or complicated manual enforcement measures.

Why It Works – The Explanation is Simple

• ParqEx Automation = Accuracy: ParqEx’s LPR cameras capture each vehicle’s license plate with near-perfect accuracy, eliminating the human error that often occurs in manually operated systems.
  
• Touchless and Easy for Drivers: Drivers no longer need to keep track of tickets (or worry about losing them), and there are no confusing kiosks to navigate at entry and exit. Approved drivers can simply enter the parking facility and park, while the system takes care of the rest.
  
• Zero Tolerance for Lost Revenue: Every vehicle’s entry and exit is tracked and reconciled. If a car tries to exit without payment, the system detects it, captures the information, and immediately charges the user using the payment info already provided in their user profile.
  

That’s a Wrap on Stop Parking Revenue Loss with LPR & Pay-on-Exit Tech

Parking revenue leakage is the silent killer of parking profits. When properties take advantage of ParqEx’s LPR and pay-on-exit payment systems, property owners, managers, and parking operators can plug those leaks and transform every parking session into real parking revenue and profit.

Remember, ParqEx’s most recent property to activate the pay-on-exit feature has already seen 2-3 recovered transactions on a daily basis. That is significant in terms of savings and profit! So just imagine what a massive boost in revenue the property is about to experience during the peak summer season, anticipating to catch 15-30 unpaid exits daily! All that without lifting a finger or investing in more parking staff or enforcement officers.

Stop parking revenue loss with LPR and pay-on-exit tech! Contact a ParqEx sales representative today!

The post Stop Parking Revenue Loss with LPR & Pay-on-Exit Tech appeared first on ParqEx.

In the ever-evolving urban transportation landscape, pay-on-exit parking systems have emerged as an excellent solution for parking lot operators, parking facility owners, and drivers seeking parking. This short blog will discuss the mechanics of pay-on-exit parking, how it’s transforming parking experiences, and how making the most of pay-on-exit parking benefits everyone.

What is Pay-on-Exit Parking?

Pay-on-exit parking (or gated parking or parking access and revenue control systems (PARCS)) is a method where customers pay for their parking stay once they leave the parking facility. This pay-on-exit parking system generally involves three main elements:

•  Entry of parking facility: A parking ticket is issued to vehicles entering the parking facility with entry time and pertaining identification information.

•  Pay Station: Payment is made before exiting (kiosk, ticket scanning, or manual payment with parking employee). It accepts cash, credit cards, and mobile payments.

• Exit of parking facility: The parking ticket is validated as having already been paid (for vehicles that haven’t paid yet, there’s often a last-minute payment option upon exit of the parking facility), allowing the vehicle to exit.

The Customer Journey

Imagine driving into a parking lot, pulling a parking ticket, and only worrying about payment once you’re ready to leave. This convenience and ease are the essence of pay-on-exit parking. Customers can shop, go out to restaurants, go to the hospital, visit a friend and their condo, or attend events without the pressure of a ticking expiring meter, a traditional parking system that requires constant monitoring and payment, or a parking reservation about to expire.

1) Customer Journey – Downtown Shopping

The driver enters the busy downtown ParqEx-LPR-powered parking facility, the license plate recognition camera captures a picture of the plate, and the driver proceeds into the parking facility, parks their vehicle, and enjoys their shopping day without worrying about time constraints. Once they have finished shopping, the time spent is calculated by the LPR data, and the driver can pay for their parking at the kiosk or via the app. Once payment is complete, the gate arms will recognize the license plate as having already paid, the gate will open, and the driver will continue on with their day.

2) Customer Journey – Event Venue After a Concert

Now imagine a busy headlining concert is coming to town. Of course, the hosting venue needs a quick and seamless parking system to accommodate the constant come-and-go of concert-goers. For a venue equipped with ParqEx’s LPR cameras, concert-goers have to drive through the entry, the LPR camera will log their license plate, and they can find a parking spot. After the concert, customers must pay their time-based parking fee at the kiosk or within the app and proceed to the exit hassle-free. Pay-on-exit clearly ensures an efficient flow of traffic for a busy event venue.

Advantages for Operators and Customers

Pay-on-exit systems benefit customers, operators, employees, and property management teams. Some of these benefits include:

• Better Financial Control: Ensures all customers pay before exiting, improving revenue management.

• Increased Customer Satisfaction: Reduces the stress of immediate payment or a ticking parking meter, enhancing the overall experience.

• Heightened Efficiency: A centralized payment station or kiosk, instead of a manually operated pay station, can reduce congestion and streamline traffic flow.

• Seamless Flexibility: Supports various payment methods, catering to customer preferences.

Technological Integration

Modern pay-on-exit systems, like ParqEx’s, are not just about convenience and control. They are also about the future. These systems can integrate advanced features like license plate recognition, touchless ticket dispensing, and mobile payments. These innovations contribute to an easy and user-friendly parking experience, making you feel excited about the future of parking.

How Pay-On-Exit works with ParqEx

As ParqEx is the market leader in smart parking solutions, we have developed a modern pay-on-exit solution incorporating property technology. Our systems prioritize making the most of pay-on-exit parking. It ensures security and proper revenue collection, minimizes violations, makes the process easy for all users, and maximizes parking operation efficiency. The ParqEx pay-on-exit parking system comprises three elements:

 •  Making a reservation: Users can book parking with ParqEx’s parking app and select their desired parking window. This reservation system will require an initial payment of the desired parking window.

 •  Entry of parking facility: With an authorized ParqEx reservation, vehicles can enter via our Access + app, a mobile application that opens the garage door upon arrival, or via approved license plates scanned upon arrival with our Access + Premium LPR cameras, which use advanced technology to recognize and verify vehicles.

•  Exit of parking facility: For users who have overstayed their parking reservation window, additional charges, which are calculated based on the extra time spent in the facility, will be applied upon exiting the facility. Thus, the “Pay-On-Exit!”

Conclusion

Pay-on-exit parking systems are one of the many leaps in parking management that have taken place in the past few years. They prioritize customer convenience and operational efficiency, creating a more organized and profitable parking operation. 

Property managers and owners, contact ParqEx, and we will show you how our technology is making the most of pay-on-exit parking!

The post Making The Most Of Pay-on-Exit Parking appeared first on ParqEx.