Duncan introduces new smart card.
"This partnership marks the first time in the U.S. that a parking meter can be installed and instantly ready to accept secure smart cards as payment," David Dull, CEO of Duncan, said in a released statement.
The two companies have been working together on the project for about six months, Dull said.
Using e-Purse technology, Parcxmart provides a secure and accurate financial engine for collecting and processing transactions from parking locations both on and off the street. Dun-can's new ePurse meter will be Security Access Model-enabled, Dull said, to allow the use of the new cards.
Municipal parking authorities have the potential to generate revenue immediately, Dull said. Parcxmart will manage the launch of the new programs in different cities and set up the necessary infrastructure.
The smart cards will sell for $10 and will be produced by Parcxmart. The new parking meters are expected to sell from $220. Duncan's current top model of meter sells for $185.
"We expect to begin the installation of the new meters and the launch of the smart cards in pilot cities by September," Dull said.
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|Title Annotation:||NW journal: a look at news from Northwest Arkansas|
|Date:||Jun 14, 2004|
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