ParkSpots Sdn Bhd

Market Conditions:- In recent years, the rapid growth of contactless card and e-wallet payments stimulated both by government initiatives and banks have created a paradigm shift for the parking industry – to do away with the conventional cash and ticketing autopayment system. The post-covid-19 pandemic – a crises turned into an opportunity for cashless payments, further acted as a catalyst to encourage minimum contact with cash, that is known for carrying a host of germs. The new norm will revolve around how customers prefer to make their parking payments, and everyone carrying a TnG, Master/ Visa and E-wallet will have a tendency to opt for cashless payment method due to the conscious awareness of the spread of germs and alike through cash handling. With zero cash handling, zero staffs onsite cost and minimum CAPEX investment, this will reduce the Monthly Fixed Operating Cost incurred up to almost 50%. Our Solution:- The operation, maintenance, leasing and administrative cost associated with autopay system and cash handling are unnecessary costs that could be done away with ParkSpots’ Cashless Payment System & 24/7 Remote Monitoring Service. At ParkSpots, we manage our car parks with a cutting-edge management model that manages minimum staffing onsite during peak hours and incentivize them to increase sales of car park products during off-peak hours. As there would be zero cash handling and in any rare occurrence of customer issue at the car park lane will be supported by our remote 24/7 customer care centre, we are the only car park management that is able to focus 100% to increase yiled of the car park facility. Because of the lower CAPEX investment of cashless technology by up to 70%, we are able to grow to a total of 25 car parks within a year as many of our partners find our management model attractive and approach timely. We enclosed in Appendix I on how our system can achieve cost saving benefit for your car park facilities.