Credit Card Parking Meters Exceeding Expectations in LA

by Mercator Advisory Group 0

A new implementation of credit cards is generating lift in the unexpected segment of parking. Perhaps similar to the lift experienced by taxi drivers in New York with the implementation of card payments, L.A’s parking meters, installed in May 2010, appear poised to break through expectations.

According to officials, the new pay machines brought in $230,000 in September, which went beyond initial expectations. When the meters were first implemented, it was expected they could produce between $1 million and $1.5 million annually.

“Since we installed the first of these new meters in May, they immediately began earning their keep in the city of Los Angeles,” Los Angeles Mayor Antonio Villaraigosa said.

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