Parkmobile signs mobile payment agreement with the BMW Group

September 15, 2014 // By Jean-Pierre Joosting
Parkmobile, a provider of mobile payment solutions to municipalities and parking providers has announced a substantial investment by the BMW Group in Parkmobile.

In addition the strategic integration of BMW Group's prepaid parking solution ParkNow with Parkmobile was announced. The investment agreement with the BMW Group is pending on approval of relevant anti-trust authorities in Europe.

ParkNow, currently operating in San Francisco, lets smart drivers find and book off-street parking spots in advance with the mobile app or online. ParkNow not only simplifies the often frustrating task of parking, it also offers added bonuses like discounted parking rates and valet service. It eliminates wasting time and fuel circling the block, which mitigates traffic, pollution and CO2 emissions.

Parkmobile will use the additional funding to further expand its leading global position for on-demand and prepaid payments for on- and off-street parking. Further, the Parkmobile for on-demand mobile payment and ParkNow for prepaid parking together will provide consumers around the world with the ultimate customer parking experience. The combined service will soon become available for integration into connected vehicles of all OEMs. Additionally it will be implemented in BMW connected vehicles.

"As one of the earliest investors in the Smart Parking space, we are excited to see this sector continue to evolve," said Ralph H. Booth, II, Managing Partner of Fontinalis and a Director at Parkmobile. "This investment is a great example of the type of innovation taking place throughout the Next Generation Mobility sector".

"The integration between Parkmobile's on-demand and ParkNow's prepaid system provides consumers with a superior mobile payment experience for on- and off-street parking," added Cherie Fuzzell, CEO of Parkmobile USA, Inc. "At the same time the strategic investment of the BMW Group clearly demonstrates Parkmobile's expanding leadership in the mobile payment and connected vehicle space."

Customers will soon have the opportunity to pay for on-demand and prepaid parking from one mobile app using mobile applications for iPhone, Android, Windows 7, Blackberry and Amazon (soon to come) smartphones. To use the integrated on-demand and prepaid system, customers can download the app, or