UPDATE - PayByPhone Enables Apple Pay and Launches Next Generation, Location Aware, iOS App

SEATTLE, WA--(Marketwired - June 27, 2016) - PayByPhone, the world's leading mobile payment provider for the parking industry, announced today that its current and new users can use Apple Pay to make easy, secure and private parking payments across the United States and Canada via its iOS app.

PayByPhone is also unveiling a new look and feel for its market leading app which includes location aware imagery, personal reminders and smart notices. The new app offers a personalized and adaptive experience for the urban driver and is available for download today on the App Store or at paybyphone.com.

The PayByPhone app enables users to authorize payment for parking securely across 300 cities globally. Within the US and Canada, users now have the option to select Apple Pay as a default form of payment within the app, along with the current options of securely stored credit cards. "Apple Pay extends PayByPhone's lead on secure payment options and overall fraud prevention," explains Kush Parikh, president and CEO of PayByPhone. "With Touch ID and privacy protection for users, Apple Pay provides extremely high payment security for our consumers that's quick and easy." For both existing and new users of the PayByPhone app, Apple Pay is a seamless payment experience that is simply a safer and more secure way to pay.

According to analysis by Frost & Sullivan, the worldwide parking industry is at least $100 billion and is expected to attract $200-$250 million of strategic investment over the next three to five years.

"Despite the fact that all urban drivers have to find parking, and that it is a large part of the driving lifestyle in the United States and Canada, paying for parking has remained highly inefficient, with most consumers still using coins and credit cards for transactions. PayByPhone is changing this equation, as we have added over 2.5 million users over the past year. We process over $300m in payments annually and Apple Pay gives our customers an efficient, remote payment option that is both convenient and highly secure," says Kush. "Our new location aware features enable a faster and more seamless experience for the user while also allowing our city and private sector clients to leverage our platform and manage their parking assets far more efficiently than they do today."

Complementing Apple Pay, PayByPhone's new location aware services include some of the following new features planned for its users over the next year:

• Dynamic Labeling: The next generation of branded applications allows for the app to change context and imagery based on where you are and what you are doing.
• Personal Reminders: PayByPhone automatically alerts users when their parking session is about to expire, including notifications on Apple Watch and the today view. Later this year, this feature will also track the walking distance between you and your parking location, and will offer an extension, based on how far away you are, to avoid a ticket or costly fine.
• Smart Notices: Leveraging in-app notifications allows public and private sector clients the ability to engage with specific user groups, for example, "Use Apple Pay during your PayByPhone session and get a chance to win a month of free parking." It is also a perfect way to issue relevant public announcements.
• Reservations: Straight from the dynamic home screen, PayByPhone will let users easily reserve parking only in private parking lots and garages, when they buy a ticket for an entertainment, sporting or community event. This feature will also be available later this year. It will not be available for street parking.
• Parking Profiles: This feature allows for customized parking rates. For example, a handicapped/disabled parker will have reduced or free rates and will also be tracked in a database, stopping fraud due to unauthorized use.

The PayByPhone app provides a worry free way to pay for parking and eliminates the need to search for coins or have a credit card on hand. For people who are running late to those that just want some extra time to enjoy their coffee, the app will not only give the user a warning before their time expires, but allows them to extend their parking at any time without having to run back to the meter.

"I never carry cash so it's great to be able to take care of paying for parking on the phone," explains Andrew Soucy, a Boston resident, "If you're running late, it is easy to pay on the go. Even on weekends, it's nice to know I can go get my hair cut and pay for parking from the barber's chair."

"Surveys have shown that parking has long been a barrier to entry for people coming to Downtown Seattle," says Kate Joncas, President & CEO, Downtown Seattle Association. "With PayByPhone making on-street parking faster and more convenient thanks to Apple Pay, visitors benefit and that helps maintain Downtown Seattle as the region's preferred urban destination."

To celebrate the launch of Apple Pay within the app, PayByPhone will be offering a chance for users to win a free month of parking between June 23 and September 1, 2016. Every time a user pays with Apple Pay during their PayByPhone session they are automatically entered into the sweepstakes. For full contest details about this limited time, Apple Pay Exclusive, offer, visit www.paybyphone.com/about/terms-contests.

Security and privacy is at the core of Apple Pay. When you use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorized with a one-time unique dynamic security code.

Apple Pay is easy to set up and users will continue to receive all of the rewards and benefits offered by credit and debit cards.

ABOUT PAYBYPHONE
PayByPhone is one of the fastest growing mobile payments companies in the world processing over $300m of payments annually. Through the company's mobile web, smartphone and smartwatch applications, PayByPhone helps millions of consumers easily and securely pay for parking and other transportation services without the hassles of waiting in line, having to carry change or risking costly fines.

Many of the largest and most complex parking operations in the world use PayByPhone including clients such as San Francisco, London, Paris, Geneva and Vancouver. Private sector clients include Impark, NCP, Indigo, LAZ, Lanier and SP Plus.

By helping transportation agencies and parking operators tap into the latest advancements in secure mobile payment, Big Data, and location based technologies, PayByPhone helps them reduce infrastructure costs while increasing revenue and compliance through the delivery of services integrated with consumers' always on the go, mobile digital lifestyle. To learn more, visit www.paybyphone.com or download the app for iOS, Android, and Blackberry devices.

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