Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for global professionals · Friday, December 13, 2019 · 504,829,376 Articles · 3+ Million Readers

OTI Subsidiary Expands EasyPark

December 9, 2009 (FinancialWire) — On Track Innovations Ltd, (NASDAQ: OTIV), said its subsidiary, PARX Ltd., is expanding its parking solution to Montpellier, the 8th largest city in France with more than 500,000 residents in the city’s metropolitan area.

Montpellier is the second city in France adopting the parking solution just two months after the announcement on Reims being the first city to adopt EasyPark in France. PARX France is PARX’s subsidiary and is acting as the local operator in France. PARX France is planning to expand the program to more cities next year. The EasyPark product is sold in France under the brand name Piaf 2.

EasyPark is OTI’s patented in-vehicle electronic parking meter. The EasyPark business model is one in which revenues are generated from product sales and recurring transaction fees revenues.

Using Piaf 2 the driver pays only for the actual parked time. To activate Piaf 2 the driver turns on the contactless unit and places it in the car window. Upon returning, the driver turns the device off. This creates a uniquely convenient user experience by eliminating the need for cash, change, and saving the time looking for parking meters. Piaf 2 can be used for both on-street parking payments and for parking lots. Piaf 2 provides detailed reports to the municipality in order to better manage and monitor parking patterns across town. The parking system is able to support multiple rates, cities, tariffs in a modular, scalable and easy to implement way.

EasyPark system is the largest field tested in-vehicle parking meter implementation of its kind with more than 30 cities and 600,000 users around Israel. Late last year OTI and PARX have announced the introduction of EasyPark in Italy and Bermuda as well.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site ( Contact FinancialWire(tm) directly via

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service ( Recently issued reports and/or recorded webcasts include Aria International Holdings, Inc. (OTCBB: ARAH), Continental Materials Corp. (AMEX: CUO), Darling International, Inc. (NYSE: DAR), Document Security Systems, Inc. (AMEX: DMC), and Juhl Wind, Inc. (OTCBB: JUHL).

Powered by EIN Presswire

EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release