Chicago Parking Meter Case Study

Publisher: Optimized Payments

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Chicago Parking Meter Case Study

When CPM started in 2009, very few meters accepted credit cards. However, as old meters were replaced with those that accepted payment cards, “Learning about payment processors and how they structure their fees—and the di�fferences between them—became very important,” shares Jean Chidley, chief �financial o�fficer at CPM. Using Optimized Payments analytics, the parking meter company saved $1.7M in the first year and continued to save $2M+ in subsequent years in reduced transaction fees.