App Let Retail Merchants Pay For Consumers Cost to Travel to Store
Using these new apps, merchants can offer new or prospective customers that are not within walking distance, to travel to their business by mass transit, shared ride or private car and the merchant will pay for all or a portion of the cost of travel. The merchant specifies the minimum purchase requirement, product or service special or the hours when the ParkingPaid or RideRefund is applied.
To the user, it’s as easy as visiting the merchant, buying the product or service, opening the app and the merchant, through the app, will refund the promised portion of their cost of transit or parking which will be added to the user’s account or directly to their transit card.
“It is estimated that there are over 50 billion annual trips on mass transit, shared ride or private vehicles today in North America,” said President and CEO Grant Furlane, who added, “because ParkingPaid and RideRefund is a real-time connection between people who are ready to purchase now and merchants immediate value will be created for participating merchants.”
The application’s “merchant interface” allows businesses to easily and continually design and change their offerings based on supply and demand. Because the interaction is through the app there is no need for coupons.
“The growth in online commerce and city populations and the use of all forms of transportation to move about a city will continue to accelerate,” adds Grant. “Additionally, business travelers and tourists are visiting cities in increasing numbers so the opportunity for a local merchant to extend their reach by connecting directly to tourists such as the over 50 million visitors to Chicago each year is immense.”
These applications further LocoMobi Smart City offering to manage all facets of urban mobility and transportation.
LocoMobi is a cloud-based parking, transit, and tolling company that produces and distributes pioneering technology to government, institutional and parking clients throughout North America including the recent toll system contract award by the Chicago Skyway.
LocoMobi has a growing platform of transportation infrastructure patents in mobile payment, access credentials and pending patents on the RideRefund and ParkingPaid applications.
LocoMobi’s leading cloud-based License Plate Recognition (LPR) system also offers a complete revenue and access engine that provides a refined process for virtual permitting including violation and citation management, toll roads including managed lanes, gated lane environments including parking and residential settings such as multi-level condominium building to grant parking access to residents and their visitors.
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