PARX Expands EasyPark Offering; Launches Patented Integrated Information and Payment System
27 March 2012 - 2:00AM
- EasyPark is the first system to automatically link
between a specific parking space and payment device, providing
cities with real-time utilization of the city real estate and
parking management
- EasyPark provides cities with the ability to implement
a modular, cost effective solution with minimum
investment
- New EasyPark system will be presented at the
Intertraffic show in Amsterdam, March 27-30, 2012 booth
03.316
PARX Ltd. ("PARX"), a subsidiary of OTI (Nasdaq:OTIV), announced
today the launch of its newly designed EasyPark™ parking
information and payment system. The new system is designed to
provide municipalities with a 'one-stop-shop' for all their
information and payment needs revolving around parking payment. The
system was designed and built taking into consideration the budget
constraints of municipalities, allowing for cost effective modular
implementation. At the center of the system is the EasyPark
in-vehicle device providing the most cost effective and secured
payment for parking solution to date. EasyPark is communicating
with supporting information systems to provide real-time data for
the driver and city.
EasyPark is a unique solution where various parking technologies
are fully integrated to form one comprehensive parking system. With
this solution, each driver can choose his preferred payment method,
and can receive additional complementary services and information
directly via his mobile phone.
The system, based on extensive patent and IP portfolio, allows
for accurate automatic identification of vehicle and parking space,
without the need to leave the vehicle, thus providing cities and
drivers key new functionalities such as, among others:
- Real Time occupancy– Patented system to manage real-time
parking occupancy info as well as automatic cost effective
settlement of payment, to allow cities optimal utilization of their
real estate, dynamic parking rates and efficient enforcement
- Guidance to available parking spot - Assisting drivers in
locating an available parking space near their destination
- Mobile phone services- A state of the art pay-by-phone parking
service with various mobile input methods (smartphone app, text
messages (SMS) and voice)
- Off-street parking - enables automatic access and payment at
private and public parking lots
The numerous additional benefits to participating cities,
drivers and residents range from offering better managed parking
services with fast and convenient payment methods, and the
elimination of lost time, wasted gasoline, polluted air and traffic
congestion – due to drivers hunting for parking.
"This new suite of products and services that we are launching
today was designed and developed based on our vast experience
serving many municipalities around the globe," said Oded Bashan,
PARX's Chairman. "We have designed EasyPark to successfully cope
and address the fast paced changes cities face, and accordingly we
are offering several payment methods and real time data that are
fully integrated, including a set of complementary services to
assist drivers when paying for parking."
About PARX
(www.parxglobal.com)
PARX Ltd. is a subsidiary of OTI (Nasdaq:OTIV) that develops,
markets, operates and distributes advanced parking solutions,
including the EasyPark™ system. PARX and EasyPark are currently
serving 125 municipalities around the world.
About On Track Innovations Ltd.
(www.otiglobal.com)
On Track Innovations Ltd. ("OTI") designs,
develops and markets ID-credentialing, payment and loyalty
applications based on its extensive patent and IP portfolio. OTI
combines standards-compliant and state-of-the-art, contactless
microprocessor-based technologies and enabling hardware with
proprietary software applications to deliver high performance,
end-to-end solutions that are secure, robust and scalable. OTI
solutions have been deployed around the world to address homeland
security, national ID, medical ID, contactless payment and NFC
solutions, loyalty applications, petroleum payment, parking and
mass transit ticketing. OTI markets and supports its solutions
through a global network of regional offices and alliances.
The On Track Innovations Ltd. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5736
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. Whenever we use words such as "will," "believe,"
"expect," "anticipate," "intend," "plan," "estimate" or similar
expressions, we are making forward-looking statements. Because such
statements deal with future events and are based on PARX's and/or
OTI's current expectations, and not on factual events, they
are subject to various risks and uncertainties and actual results,
performance or achievements of PARX and/or OTI could differ
materially from those described in or implied by the statements in
this press release. For example, forward-looking statements include
statements regarding our goals, beliefs, future growth strategies,
objectives, plans or current expectations from our new parking
solutions, their introduction into the market and/or the
implementation of our current and new EasyPark system
features. Forward-looking statements could be
impacted by market acceptance of new and existing products and our
ability to execute production on orders at any specific time, as
well as other risk factors that may influence the market which are
beyond the company's control. Although PARX and OTI believe that
the expectations reflected in such forward-looking statements are
based on reasonable assumptions, they can give no assurance that
its expectations will be actually achieved. Except as otherwise
required by law, PARX and/or OTI disclaims any intention or
obligation to update or revise any forward-looking statements,
which speak only as of the date hereof, whether as a result of new
information, future events or circumstances or otherwise.
The content of websites or website links mentioned or provided
herein are not part of this press release.
CONTACT: OTI Contacts:
Galit Mendelson
VP, Corporate Relations
On Track Innovations Ltd. (OTI)
732 429 1900 ext. 111
galit@otiglobal.com
Jay M. Meier
SVP, Business Development & Investor Relations
OTI America, Inc.
732 429 1900 ext. 104
jaym@otiglobal.com
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