Motorists Can Tap Their CU Accounts ForParking

Register now

SAN JOSE, Calif. - (04/12/05) -- The city of San Jose has completed apilot program that allows drivers to use a smart card to feedparking meters and link it directly to their credit union accountso funds can be automatically replenished. The pilot was conductedwith ParcXmart Technologies Inc., of Hampton Falls, N.H., in theJapantown section of San Jose in February, then linked directly toan electronic funds transfer network in a second phase last month.Several communities currently allow motorists to pay parking meterswith reloadable smart cards at stores owned by participatingmerchants, but San Jose is the first to link the system to afinancial institution account. New Haven, Ct., is scheduled tointroduce the technology soon.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER