Parkmobile USA Selects Citi to Expand Its Suite of Cashless Payment Solutions for Parking

NEW YORK, Sept. 15, 2011 /PRNewswire/ -- Parkmobile USA, Inc., a leading provider of cashless parking solutions to municipalities and parking providers around the world, has selected Citi to offer new, more comprehensive mobile payment services to Parkmobile's customers.

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With the new Parkmobile solution, motorists running to catch a train, plane, ferry or appointment can bypass the parking pay station and complete their parking transactions by mobile phone. Parkmobile has selected Citi to provide global payment management services, leveraging its world-class virtual prepaid account capabilities.

"We selected Citi because of their broad and deep experience managing payments for both individual consumers and complex public sector and government organizations," said Albert Bogaard, CEO of Parkmobile USA, Inc.  "By leveraging Citi, we can continue to focus on expanding our core business and advance cashless parking payments technology, while Citi streamlines and integrates the management of payment transactions and brings new innovations in digital payments to our service model."

Washington DC, The District Department of Transportation (DDOT) and Parkmobile piloted 1,000 parking spaces in 2010 and has implemented Pay by Phone parking services  at all of the approximately 17,000 on-street metered spaces in the District of Columbia.  The Massachusetts Bay Transportation Authority (MBTA) launched Parkmobile services for its riders in July 2010.  The Metropolitan Transportation Authority and Parkmobile also implemented Pay by Phone parking services for commuters in June 2011.

To use Parkmobile's service, drivers register for free by setting up an account at www.parkmobile.com, where they can also download a mobile app.  Once registered, customers can use the mobile app, the internet, or a 1-800 number to pay for parking.  The mobile apps for iPhone, Android and BlackBerry are very easy to use.  At that time, they can set up a virtual card account, provided by Citi, through which they can initiate and manage their parking payments. Their account can be loaded via a credit card, debit card or bank account transaction. Once registered, they can use a downloadable mobile application, mobile website or a toll-free phone call to initiate parking payments.

"We are proud to join forces with Parkmobile to meet the needs of parking service providers across the U.S.," said Gary Schneider, Head of Public Sector Product for North America.  "Parkmobile is the premier mobile parking company with market-tested solutions and whose forward-thinking approach to mobile payments closely aligns with Citi's. This 'next-generation' parking concept exemplifies how, through strategic partnerships, we can advance these goals and also bring innovative mobile solutions to both our municipal clients and their customers," said Schneider.

Smart parking is part of a broader Citi for Cities strategy that aims to harness capabilities and experiences across Citi globally to help municipalities become more efficient, facilitate commerce and modernization, and empowering citizens to access services that enhance livability and prosperity.

Citi Prepaid Services, a division of Citi's Global Transaction Services, is a leading provider of innovative corporate prepaid solutions. Through a consultative approach, Citi Prepaid provides clients with comprehensive electronic payment programs that reduce costs, enhance operational efficiencies and provide an unmatched user experience. Leveraging an extensive payment platform and proprietary prepaid technology, clients around the world depend on Citi Prepaid's custom programs for all types of payments including compensation, promotions and disbursements. www.citiprepaid.com 

Global Transaction Services, a division of Citi's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup's Global Transaction Services supports over 65,000 clients. As of the second quarter of 2011, it held on average $365 billion in liability balances and $13.5 trillion in assets under custody.

About Citi.

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube:  www.youtube.com/citi | Blog: http://new.citi.com | LinkedIn: www.linkedin.com/company/citi

About Parkmobile

Parkmobile is a leading global provider of seamlessly integrated end-to-end solutions for Pay by Phone parking. Its offerings include cashless mobile payments for on and off-street parking, digital parking permits and real-time enforcement.  Their services are used in 100 cities around the world by millions of registered users.  Parkmobile USA was founded in Atlanta, Georgia and its call center, engineering team and corporate headquarters are located in the U.S.  Parkmobile's investors include BCD Holdings and Fontinalis Partners.  With annual global revenues of $20.3 billion, BCD Holdings is an international market leader in the travel industry. Fontinalis Partners invests in and partners with innovative technology companies that modernize and improve transportation. Fontinalis is led by Bill Ford a lifelong environmentalist and the executive chairman of Ford Motor Company.  For more information visit www.parkmobile.com.

SOURCE Parkmobile USA, Inc.

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