The more parking payment systems you offer at your car parking facility, the more profitable it is likely to be. When visitors park in a car park and can’t pay because they do not have the required payment method, they will most likely drive elsewhere. However, you do not need to offer your visitors every type of parking payment solution because, in many instances, what caters to the demands of your customers is not favourable to you. Now the question arises which combination of payment solutions would best suit your car park? Here in this blog, we’ve listed below the payment systems your car park should offer for maximum profitability.
• Pre-Payment Systems
Pre-payment systems are based on software-based accounting methods. In these systems, motorists place a credit into their account, and every time the associated vehicle number plate for the account holder enters your car park, you can deduct the sum from their account. You can make single charges for each visit to your car park, or you can also calibrate the system to charge according to the amount of time that has been spent in your facility.
With this model, you’ll need a number plate recognition system at the entry and exit of your car parking facility. Pre-payment systems are the best option for frequent parkers and people who require long-term parking arrangements.
• Online Payments
Online payments are getting more and more popular nowadays. This is because all motorists can access the internet from their mobile phones; hence a payment portal can easily be set up online. But you need to be careful about security when storing visitors’ data in the cloud. Online payment systems are incredibly flexible to customers wanting to top up their payments if they take longer to return to the vehicle than they had initially expected. These days, most online payment portals accept payments from credit and debit cards, direct bank transfers and several other digital payments methods, such as PayPal.
• Commercial Invoicing
You can consider commercial invoicing if you have businesses that use your car parking facility every day. Invoicing means that you will bill the companies concerned after they have used your premises and not expect them to pay in advance. Although commercial invoicing works excellent for many types of business, there is a massive credit control issue. Because payments for parking are generally made in arrears, you have to be on top of late and non-payers.
• Cash Payments
Cash is still the preferred payment option for many motorists. However, there are two significant drawbacks to cash payment systems. First, it needs to be stored safely to protect it from being stolen. The second is that customers must have the proper coinage for parking payment. It is the least preferable payment option for various retail environments, including the car park.
Nevertheless, some people still prefer the simplicity that cash payments provide them. If you want to offer cash payments to your car park customers, moving the payment hardware that can process it away from the exit will be preferable.
• Direct Debit and Standard Orders
These days car parks debit their customers’ accounts automatically. With direct debit, the payment will get transferred into your bank account without any requirement to be approved by an account’s payable department. Direct debits are an excellent option for individuals who use your parking facility frequently. However, direct debit is a trusted option but be aware of any customer who cancels their direct debit mandate. Overlooking this can allow customers to continue to park for free.
The best alternative to this automated payment system is asking customers to set up their standing orders. In such a case, they will use their account number or vehicle number plate as their payment reference, helping you track which payment is related to which client.
• Contactless transactions
You can install contactless payment machines in your car park to offer your customers a seamless parking payment experience. With contactless payment machines, the cards can be read, approved and have payments made within a second or two. Various mobile phones can be linked to your account and used for fast contactless transactions that help eliminate queues around pay stations and car park entrances and exits.
How We Can Help You?
Your car park is the first impression of your business; hence you have to provide the best services to your customers. At Euro Parking Services, we aim to optimise your car park for a seamless parking experience with our effective services. We are one of the UK’s leading car park management companies. Our dedicated team will provide you with the best parking solution for your site with various approaches available to maximise the effectiveness of your site, helping transform your car park for the better. To know about our services, contact us. We will be pleased to work with you.