Question: What is average ParkMobile processing fee savings per year?
Response: Annual savings in the meter program’s credit card processing costs are generally in the range of $40,000 to $60,000, driven by increased use of the ParkMobile app and reduced reliance on traditional meter-based transactions. As more customers use mobile payments, processing costs have declined from $120,000 on average in FY 2020–FY 2022 to approximately $65,000 in recent years, with current projections remaining in the $50,000–$60,000 range. This reflects a sustained downward trend as mobile payment usage continues to grow. The City has adjusted the budget accordingly, from $200,000 in FY 2025 to $100,000 in FY 2026 and $60,000 in FY 2027.