Open Payments simply means the ability to accept ALL types of cashless payments that is in the market. Cashless payments generally uses these 4 technologies – contactless, contact, magnetic stripe and dynamic QR display. From debit, credit, loyalty, season pass and e-wallets, they generally fall under these 4 contact points.
So why is Open Payments important? Your car park facility will be the most convenient choice for motorist to park. According to a study, an average adult has 3 types of cashless payment – debit, credit, e-wallet. Limiting one or two payment options that is not scalable to onboard other forms of new payments will set your car park facility back in the years to come. Cashless payments are booming and if you’re not up to the latest trends, motorists will have the choice to park where it’s more convenient for them.