PayMedia launches country’s 1st smart parking solution with Park and Pay


PayMedia launches country’s 1st smart parking solution with ‘Park and Pay’

Finding parking and paying for it just got easier. Now you never need to waste time and gas looking for parking again. ​ The Park and Pay App that will be launched by PayMedia is a quick, simple, and secure way that helps motorists to find vacant parking spaces anywhere in Colombo that they can then select and pay for in an app.

This service works in locations supported by Park and Pay that will cover all the key parking locations in the city from public car parks, supermarkets, shopping centres, and many more. These locations are displayed in the app with an icon on a map, and with detailed information for each parking space. This also includes information on payment providers and parking identification.

All you need for your parking operation from a single source: The solution is very simple and easy to use. Customers need only to register by downloading the free mobile app in their phone’s app store. The application is available for iPhone and Android. The range of functions available on the Park and Pay app are flexible and user-friendly, enabling the user to make stress-free parking payments. Motorists just have to key in their vehicle number, find parking and simply pay for it through the payment methods facilitated in the app. Fees are based on the length of time a vehicle is parked on a per-hour basis. 

When paying by phone, motorists will receive a text message alert to verify the payment, if the parking slot has a certain time limit can also select the option to get a notification 10 minutes prior reminding the time remaining so that the parking time limit won’t exceed. The payment method is secure, with all data being encrypted to ensure safe and secure transactions. A history of transactions is viewable any time the user logs into their account. Not only that, Park and Pay also allows you to rent your unutilised land space for parking and earn a revenue from it.

Improving the parking problem in the city: This solution will also allow the city to improve parking services, optimise operations, cut costs, increase compliance by better parking enforcement, reduce traffic congestion and pollution and at the same time provide a better service to the drivers and the city’s residents.

Additionally it also simplifies the monitoring and collection of parking fees, increases compliance using an efficient parking enforcement technology, eliminates fraud and reduces cash handling and as a result makes parking operations more efficient and more profitable for the municipality while at the same time offering a better service to the drivers.

PayMedia Founder Kanishka Weeramunda said, “PayMedia is very excited to launch our Park and Pay Solution in the country. Parking in Colombo is a huge challenge today, but we believe that our Park and Pay Solution will make it much easier. With no paper receipt and the ability to quickly get on your way, this solution will help save the people in Colombo the most precious of resources, their time. Our solution is a great example of how technology can make our lives easier and more efficient.”

Having been the brainchild for many technological innovations, from Smart Banking Solutions to Electronic PIN Distribution Solutions to Electronic Payment Options providing a viable alternative to cash, POS and MPOS systems and having won a range of accolades and awards for their innovative solutions both locally and internationally, PayMedia once again becomes the first to launch smart parking solutions in the country, beginning with the City of Colombo.