PayByPhone, a mobile payments firm, is aggressively expanding its business with the acquisition of cashless payment processor Adaptis Services and a new tender with VINCI Park in Paris.
Adaptis is a provider of electronic parking permits, automatic license plate recognition for parking lot enforcement and violation notices and has also developed transactional processing platform DASH.
With the acquisition of the company, PayPoint’s subsidiary PayByPhone, is keen to expand its range of parking products into permits and violations, besides helping the payments firm in securing bundled contracts.
PayPoint North America president Kush Parikh said: "The acquisition of Adaptis is an exciting step in the ongoing development of PayPoint’s Mobile & Online strategy and strengthens our leading position in the parking and urban mobility sectors. It brings a highly capable team with strong client relationships and a reputation for rapid innovation."
PayByPhone, meanwhile, has secured a contract from the city of Paris in partnership with VINCI Park to launch cashless parking for 155,000 parking spaces.
The company is intending to introduce the parking areas in central Paris in summer 2014, before expanding to residential and business parking areas by fall 2014. It also has plans to launch the same scheme across all other areas of the city by the end of 2015.
The contract has increased PayByPhone’s footprint in France across more than 30 cities after it first launched the phone parking payment service in Issy-les-Moulineaux.