New parking meters in Pittsburgh increases revenue for SMBs and city
July 01, 2013

Small- and medium-sized businesses often see their sales increase after adopting credit card processing software, but sometimes SMBs need their local governments to institute the same payment measures on public parking to continue seeing revenue. Sometimes, a lack of payment options for parking near retailers' stores makes it harder for customers to find a place to park. A business owner may offer electronic payment systems, but if consumers are unable to pay for parking with their plastic, they may not frequent a business very often. Pittsburgh recently installed new smart meters in March and has seen a boost in consumer traffic within the affected areas as a result.

According to local news station TribLive News, Pittsburgh is now allowing free evening parking because the new card-reading meters have generated 20 to 25 percent more revenue than the old coin operated system. The news source reports the Pittsburgh Parking Authority projected $7.8 million in revenue for the first quarter of last year but the first quarter of 2013 has seen almost 25 percent more revenue come in. Due to the significant increase, the city was able to offer free parking, which boosts sales for SMBs in the area.

Corey O'Connor, councilman for the Pittsburgh City Council, told TribLive News the new system is producing numerous benefits for the community because residents are now able to purchase a parking space using their preferred payment method, which increases their likelihood of frequenting local businesses more often. The additional institution of free parking is providing advantages not only for the city and businesses, but for consumers as well.

"I think it's also good for the resident," O'Connor said. "They can go to their favorite shop or restaurant without worrying about getting a ticket." 

Nexus: G-WEBCD1