3 Reasons to Upgrade to Contactless Smart Meters

In today’s technologically-savvy world, customers expect things to get done quickly and efficiently. This includes paying for products and services such as gas, groceries and healthcare.

As industries adapt to today’s uncertain times, companies are looking to create a seamless and secure transaction process for customers. This is especially true for Smart Cities offering Smart Parking Solutions for motorists.

While many smart meters today can offer multiple payment options—such as coins, bills, and credit cards—parking customers today expect an easy and contactless payment experience.

Read on to learn three reasons why now, more than ever, may be the best time to upgrade to contactless smart meters.

Contactless Payments are Secure

Contactless payments have the same protection as chip and PIN payments, making them safer than cash. Contactless cards and devices are also embedded with multiple layers of security to protect motorists against fraud.

Because contactless payments work when a card or device is a few centimeters from a Smart meter, it is virtually impossible for any details to be intercepted while in use. Any information from a contactless card is visible on the front of the card and would be of limited use to fraudsters, as these details could not be used to clone a card.

Additionally, contactless payment technology isn’t limited to just plastic cards: It is available to consumers in other forms, such as mini-cards, stickers, key fobs, and contactless-enabled phones.

Motorists can Pay for Parking Quickly and Efficiently

Let’s face it: Who doesn’t want things done in a timely and efficient manner? This is especially true when it comes to paying for parking.

For many years, motorists would have to either dig for coins, or make a quick stop at a convenience store to ask for change in order to pay for parking. As meters evolved to allow customers multiple payment options—from coins to bills to credit cards—paying for parking became a less stressful experience.

Even so, customers today expect a more convenient parking experience. By simply waving a card or hovering their smartphone or smartwatch near the meter, motorists can pay for parking in literally seconds, making the parking experience seamless and convenient.

Research from First Data has shown that contactless payment transactions are faster than both, cash and conventional card transactions—averaging 12.5 seconds, compared to 26.7 seconds for conventional card transactions and 33.7 seconds for cash transactions. This reduced

transaction time can result in shorter lines, increased revenue, and a more positive customer service experience.

Contactless Smart Meters require Less Maintenance

Because contactless meters allow motorists to pay without cash, they require considerably less maintenance. Meter techs can worry less about fixing coin jams, and because there is less cash inside the meter, theft incidents are reduced as well.

Additionally, contactless Smart meters help increase uptime provide valuable data to drive smart policy decisions, and can increase revenue, which can help fund critical city departments and improve infrastructure.

When fully-integrated with other Smart Parking Solutions, contactless Smart meters can help cities increase turnover, reduce emissions, and increase customer satisfaction by providing an easy, convenient, and secure parking experience.

Thinking about implementing contactless smart meters in your city? Discover how IPS Group can help your city become the Smart city of the future by scheduling a product demo today. Click here to schedule a demo.