Mobile Payments Soar at Platinum Parking

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At a Glance

Locations

X

Increase in mobile payments

%

Cross portfolio STP adoption

%

STP adoption at some locations

The Challenge

Operating over 300 locations across 13 markets, Platinum Parking is a boutique parking management company with an emerging national presence. “We are big enough to have resources, but small enough that we still get to pay attention to every client,” says President Matt Adey.

Platinum’s customer base is made up of both contract parkers that pay monthly and transient parkers who tend to pay on demand, rather than in advance for dining, sporting events, and other attractions. Although Platinum has long offered mobile payments, adoption was stagnating at around 15% of transactions prior to FLASH.

“During covid, digital payments became intuitive to a larger portion of our customer base,” Adey says, “and the more opportunities we give customers to do things with their phones, the better their experience.”

The Solution

Seeking to expand their mobile payment offerings Platinum rolled out FLASH’s Scan-to-Pay (STP) solution in December of 2021.

The FLASH STP solution allows customers to pay for parking with their phone in seconds, no app download required. “The ability for people to pay with Apple Pay & Google Pay was genius–it’s just so easy,” explains Adey.

Overnight, the number of mobile transactions doubled.

The ease of use was immediately evident to our customers.

Matt Adey President Platinum Parking

The Result

Today, 31% of transactions across Platinum’s portfolio are Scan-to-Pay. In some markets, like Seattle, STP adoption has reached up to 50%.

For Platinum, the rising popularity of mobile payments has also reduced stress on pay-on-foot stations. Prior to STP, new Platinum locations required two or three pay-on-foot stations. With STP signs installed, most locations only need a single pay-on-foot station, reducing the cost of entry into new business locations.

“I think that’s really the trend for the future,” Adey says, “as a parking operator our philosophy is that the more opportunities you provide for someone to pay for parking, the more likely they are to pay.”