“User pays” is trending.
….because convenient methods of paying are trending.
This new trend is making the economics of capitalization and payback MUCH easier. Markets will be built for investment capital where payback rates can be credibly estimated.
New apps, GPS technology, iPhones, Internet technologies, credit card apps and sensors make it simpler for the user to pay for the services they use.
An example of app-based technologies is MobilePass – an app for conveniently paying for parking instead of “feeding the meter”. Its popularity is making it possible for paid parking to work.
A second example of app-based is Uber. Uber users summon their ride using an app, which charges in advance to a pre-assigned credit card – thereby allowing a ride to be summoned based on the destination sought and the pick-up location. GPS technology effortlessly allows the app to calculate the price of the ride and to scan for nearby free Uber cars.
An example os sensor-based technologies is EZ Pass and technologies like it. EZ Pass reads license plates at bridges and on toll roads. It replaces the “toll booth”, where vehicles needed to stop, wait in line, and then pay their toll to a toll worker.
E‑ZPass enjoys tremendous brand recognition and high levels of customer satisfaction, and is the world leader in toll interoperability, with over 35 million E‑ZPass devices in circulation. It operates in all of New England, except VT and Conn, and goes west to Ohio, Indiana and Illinois, and South to North Carolina.
But EZ Pass is one of many. Here is a rundown of the apps chosen:
Simple Example of User Pays
ParkMobile (app that allows users to pay for parking)
Uber (app that allows users to pay for taxi service)
Meters (meter readers are being replaced by smart meters)
Toll roads (with EZ Pass and similar technologies)
Train, Bus, Boat and Plane Tickets
Concert Tickets and Ticketmaster
Hotel Rooms and Expedia and Hotels.Com
Rent and AirBnB
Electricity Service and smart meters
District of Columbia
EZ TAG / TX TAG / TOLLTAG
GOOD TO GO!
PlatePass makes all of this happen for rental cars
The 6 Best Payment Apps to Get in 2018
PayPal. Courtesy of PayPal. PayPal is the granddaddy of payment companies, with a history going back to 1998. …
Venmo. Courtesy of Venmo. …
Square Cash. Courtesy of Square Cash. …
Zelle. Courtesy of Zelle. …
Google Wallet. Courtesy of Google Wallet. …
Facebook Messenger. Courtesy of Facebook.
Sep 20, 2018
The 6 Best Payment Apps to Get in 2018 – The Balance