Los Angeles parking meters see gains in revenue thanks to credit card processors

Credit card processors can be a method of opening up certain services to other users, and in a densely populated urban environment it might become increasingly necessary. Parking meters are one example of this, and if one needs convincing of the boost in overall financial gain such an addition can bring, one can turn to Los Angeles' parking meter systems, which reportedly earned more than $2 million through card payments back in March.

As the L.A. times reports, these kinds of terminals are intended to be more efficient and self-sustaining, running off of solar power, and they are the result of a long conversion effort that was finally completed at the end of last year. There are said to be more than 38,000 meters accepting credit card payments at this time, and they seem to have been embraced by drivers almost immediately, even though the fees have increased.

The article points out that the use of electronic payment processing allows the city to take control when it comes to pricing, changing rates for more crowded areas as needed. The convenience of card payments could potentially see more drivers taking advantage of this system, which could in turn result in even more money going to the city's parking department.

Ease of use is an important factor that can come when making a card payment processor more available in any sector, be it public or private. Companies can expect a new interest to develop once they start accepting card payments, perhaps as rapidly as this parking department did. 

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