Parkmobile USA Inc. has entered into an agreement to establish a joint venture with SP Plus Corp. The joint venture, Parkmobile LLC, will be a leading provider of on-demand and prepaid transaction processing for on- and off-street parking and transportation services. Its day-to-day operations will be the responsibility of the Parkmobile USA management team.

The joint venture will combine two parking transaction engines. Parkmobile will contribute its on-demand parking transaction engine that allows consumers to transact real-time payment for parking privileges in both on- and off-street environments. SP+ will contribute its proprietary Click and Park prepayment system, which enables consumers to reserve and pay for parking online in advance.

The joint venture will be first to market with a comprehensive solution that addresses all parking verticals and consumer needs by leveraging the Parkmobile consumer brand and the Click and Park “white label” prepayment transaction engine.

The fully-integrated solution will be available for deployment to existing Parkmobile and Click and Park clients and channel partners, including the approximately 4,200 locations and 2.1 million parking spaces operated by SP+.

With the resulting powerful transaction processing engine, businesses such as parking operators, ticket platforms, convention centers, stadiums, municipalities, universities and an array of consumer-facing websites will be able to allow their customers to easily purchase and pay for parking and transportation services using any device having Internet access, from smartphones to desktop computers.

[Source: Parkmobile USA]