CRANE PAYMENT INNOVATIONS (CPI) ANNOUNCES PARTNERSHIP WITH LOCOMOBI PARKING SYSTEM

May 26, 2017

CRANE PAYMENT INNOVATIONS (CPI) ANNOUNCES PARTNERSHIP WITH LOCOMOBI PARKING SYSTEM

Malvern, PA (May 16, 2017)

Crane Payment Innovations (CPI), the world-wide leader in providing cash payment solutions and a Crane Co. company, today announced that the company has partnered with Locomobi, a leading provider of reliable parking management solutions, to integrate CPI’s cash recycling technology into Locomobi’s pay-on-foot equipment. Through this partnership, CPI’s SCR bank note recycler is being added to Locomobi stations throughout the United States and Canada. This will allow a smaller footprint as acceptance and change is in one unit which streamlines the designs and provides more options to its customers. Being more streamlined allows adding these options to Exit Stations in the lanes to better service the public.

The SCR is a two-denomination recycler that can collect and dispense cash in a fraction of the time required by traditional cash payment equipment. It also features innovative security features that eliminate the risk of theft, and has a small footprint that can seamlessly be integrated with existing parking access and revenue control equipment. CPI’s SCR, which was introduced last year, is ideal for the parking marketplace and quickly gained widespread adoption throughout the world.

“The addition of the SCR to Locomobi’s pay-on-foot equipment will offer unprecedented customer service and security for parking facilities that use Locomobi equipment,” said Bryan Alexander, industry sales manager for Crane Payment Innovations. “The SCR represents a technological breakthrough for parking owners and operators that makes accepting cash just as convenient as taking credit cards. Many parkers prefer to pay for parking with cash rather than credit cards, and the addition of CPI’s SCR is an important customer service amenity for those who prefer to pay with cash.”

ABOUT LOCOMOBI:

LocoMobi is a cloud-based parking, transit, and tolling company that produces and distributes pioneering technology to government, institutional and parking clients throughout North America including the recent toll system contract award by the Chicago Skyway.

LocoMobi has a growing platform of transportation infrastructure patents in mobile payment, access credentials and pending patents on the RideRefund and ParkingPaid applications. LocoMobi’s leading cloud based License Plate Recognition (LPR) system also a  complete  revenue  and  access  engine  that  provides  a  process  for  virtual  permitting  including  violation  and  citation management, toll roads including managed lanes, gated lane environments including parking and residential settings such as multi-level condominium building to grant parking access to residents and their visitors. For more information, visit www.locomobi.com

ABOUT CRANE PAYMENT INNOVATIONS:

CPI provides a full range of unattended payment solutions for Gaming, Retail, Transportation, Vending, and Financial Services applications. CPI is built upon the technological heritage and market expertise of the NRI, CashCode, Telequip, Money Controls  and, most recently, MEI and Conlux brands.

CPI works in partnership with valued customers to enhance its portfolio of high-quality payment solutions – from coin and bill processing to cashless systems and asset management software.

CPI is headquartered in Malvern, PA with additional offices, manufacturing facilities, distribution and service centers worldwide. The company holds one of the world’s largest installed bases of unattended payment systems. For more information, visit www.CranePI.com.

Crane Co. is a diversified manufacturer of highly engineered industrial products. Crane Co. is traded on the New York Stock Exchange (NYSE:CR).