Vancouver Parking Payment Technology DPT Gets Acquired

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Burnaby-based parking payment technology firm Digital Payment Technologies (DPT) has been acquired by Indianapolis-based T2 Systems, a technology-focused parking system provider.

DPT describes themselves as an innovative leader in the design, manufacture, and distribution of multi-space parking meters, management software, and online services for the parking industry. They build multi-space pay stations, along with an online EMS management system, provide financial tracking, control, and reporting on parking revenue collected by municipalities, universities, and private parking operators.

“This combination of two respected companies in the parking industry will create new and exciting opportunities for our clients, partners and employees. DPT is proud to be part of the T2 team and looks forward to an exciting future,” said DPT CEO John Fraissinet.

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T2 Systems, meanwhile, is another small tech company leading the parking tech business, and the two companies have worked with each other for quite some time. Both companies will continue to deliver their respective products and will now be able to offer enhanced parking enterprise data analytics for municipalities, universities, hospitals, owners and operators, and consumer solutions.

“The commitment to supporting customers’ needs is fundamental for both T2 and DPT, and that will only be strengthened as a result of this transaction. T2 and DPT will continue to work with all of our partners to ensure that our customers have the solutions they need to achieve their business objectives,” said T2 System’s David Sparks.

DPT has developed a few valuable smartphone-enabled unique technologies that aid parking garages. “Digital Patrol” is a payment verification app for Android that puts real-time pay station data in the hands of parking patrollers. Patrollers can easily verify a vehicle is citable by validating Pay-by-License Plate and Pay-by-Space information.

The Vancouver company also created the industry’s first fully integrated Extend-by-Phone service, which allows consumers to receive parking expiry reminders and extend time for pay station-initiated transactions via text messaging, through virtually any phone.

On top of this the company also created the “LUKE II”, a highly secure, flexible parking pay station designed for on- and off-street deployments. Traditionally parking garages have used one pay station but the company said on its website that “public and private parking operators are realizing the benefits of multi-space pay stations: increased revenue, reduced operational costs, and superior customer service, to name just a few.”