MasterCard and Parkeon announce global partnertship to take merchant offers to the street
Ground breaking partnership will transform on-street parking into a retail experience when you park your car.
WATERLOO & PARIS, October 3rd, 2013 – MasterCard (NYSE:MA) is today announcing an exclusive, global partnership with the world’s leading parking services provider, Parkeon, to enable shoppers to benefit from local merchant offers and loyalty services through their global network of smart parking terminals.
This unique couponing platform, developed by MasterCard, will enable the delivery of offers from locally relevant retailers directly to shoppers as they are paying for their parking spaces. This new process transforms the retail experience and is designed to deliver relevant rewards to shoppers at the right moment and in the right place. For local businesses, this powerful new digital shopping channel will allow them to showcase relevant and appropriate merchant offers in a highly targeted way.
This system is the first of its kind and, in contrast to other loyalty programmes, it will not require complex sign up processes or smartphone app installation. It makes this unique experience quick, easy, and accessible by everybody.
A pilot scheme of the programme will be launched in Rockville Center, NY on October 7th when MasterCard’s couponing platform will be integrated into existing Parkeon terminals for the first time. A full scale deployment of the merchant offers solution is currently expected to begin at the start of 2014 across Europe and the US.
Hany Fam, President, Global Strategic Alliances at MasterCard said: “The way we shop is changing and today’s shopper wants to feel that they are getting the best and most personalized experience possible. By combining MasterCard’s global network, data and technology assets together with Parkeon’s global distribution infrastructure, we can start the retail experience from the moment we get out of our cars. At MasterCard, we have the opportunity to reinvent and rewire the way people interact with retailers by providing solutions and experiences that work for both the retailer and the shopper. Through our partnership with Parkeon we continue to put the customer journey first by creating products and experiences that are tailored and relevant to local shoppers.”
Stéphane Roques, Head of Parking Business at Parkeon: “Parking meters are evolving from a cash-intensive, low-value transaction industry, to one that is able to deliver huge commercial benefit to businesses and reward consumers. A partnership of this size and scale represents the latest in a series of innovations in on-street parking, which not only ensure we are meeting the rowing expectations of consumers, but also have a positive impact on businesses in the 3000 cities that we currently operate in around the globe.”
This global partnership builds on an already successful collaboration between the two companies who encourage customers to move away from cash and towards contactless payments. Current initiatives have increased the use of Parkeon electronic payments terminals across 50 countries by 27% over the last year. Today’s announcement represents the next step in enhancing the retail experience and transforming the parking meter from a simple parking payment processing tool into an interactive terminal for multiple local merchant services which compliments the increasingly digital nature of smart cities.