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Technology Stocks : On Track Innovations Ltd. (OTIV)
OTIV 1.01-4.8%Dec 11 5:20 PM ESTNews

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From: JakeStraw6/5/2014 8:44:24 AM
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oti Lands Five-Year Arlington County Cashless Parking Contract
finance.yahoo.com

EasyPark from oti will help county better manage more than 5,000 parking spaces; allows drivers to skip meters and pay only for the time they are actually parked

“It’s an exciting time for oti as we begin working with Arlington County, augmenting our strong presence abroad with more and more customers in the US. It’s all part of our continuing strategy of entering long-term public/private partnership contracts for municipal parking management,” said Ofer Tziperman, CEO of oti.

Arlington County will begin deploying EasyPark devices early next month. Using EasyPark is simple: The user loads the device with funds through a bank account, and then activates the device and hangs it inside the vehicle while parked. Payment is automatic, and the user is charged only for the actual time spent in the parking space. The system eliminates overpayments to meters, “meter feeding,” and drivers having to walk to a central ticket dispenser and payment device.

EasyPark is already deployed in a variety of other US cities, including Austin, Texas, Manchester, Portsmouth and Dover, New Hampshire, and is in several more pilots across the nation. Since its introduction globally 15 years ago, EasyPark has been deployed in more than 160 municipalities worldwide. oti has sold more than 1,000,000 in-vehicle parking meter devices worldwide since introducing EasyPark.
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