24 Aug 2007 07:00
YooMedia plc
New Customer Agreement
Remote Parking Payment Contract with Leading Car Park Company
YooMedia plc ("YooMedia" or "the Company"), the interactive media and games group has, under its partnership agreement with PayChannel, entered into an agreement with Meteor Parking Limited, part of the GoAhead Group Plc and Britain's third largest car parks company.
The agreement is to provide remote payment services via a secure cashless payment service called YooPark. It is expected that through YooPark, the Company will earn a minimum of 17p per transaction per space and that this agreement will cover at least 19,000 spaces, all at railway station car parks, with expected further growth through roll-outs to other Meteor locations. Whilst the initial deployment and subsequent roll out schedule is yet to be finalised, the scope of planned deployment of YooPark by Meteor will include car parks on the Southeastern, West Midlands, and Southern rail franchises.
There are two YooPark products being provided. Using the first, motorists are able to dispense with the tradition of feeding car park machines with coins. Instead payment can be tendered using an Interactive Voice Response (IVR) system without any requirement for prior registration or, if preferred, via mobile phone text messaging (for those who choose to register). If registering, the IVR system will retain customers' payment card details for future use so that these are never transmitted via SMS. Where a ticket has not been displayed in the windscreen, parking attendants will be able to input the car registration number into a Wireless Application Protocol (`WAP') application to check if a valid YooPark payment has been made. Car park users who have not paid will be issued with a Penalty Charge Notice (PCN). The second YooPark product being provided allows payment of the PCN via a further IVR service covered by the same transaction charging scheme as IVR parking. Both products provide Meteor with full reporting and enquiry facilities and car park users can request additional services such as SMS Reminders when their YooPark parking time is about to expire and SMS Receipts for YooPark PCN payments.
YooMedia continues to explore opportunities in the parking and interactive gaming sectors for its dedicated transaction services.
Neil MacDonald, Managing Director, commented:
"Expanding business activities through different applications of our proprietary software is the principal focus of the Company. YooPark is a prime example of what we can achieve.
"I am delighted that Meteor recognises the advantages of our system, which enables an individual to simply park their car and pay using a mobile phone while on the train. We believe this system to be at the forefront of the sector and it has the ability to significantly add to our future profitability."
24 August 2007Enquiries:YooMedia plc Tel: 020 7462 0870
Neil MacDonald, Managing Director
Nexus Financial Ltd Tel: 020 7451 7050 Nicholas Nelson/Kathy Boate nicholas.nelson@nexusgroup.co.uk
Nominated Advisor - Seymour Pierce Limited Tel: 020 7107 8000
Mark Percy/Parimal Kumar Note to Editors:
YooMedia plc (www.yoomedia.com) is one of the UK's leading interactive entertainment content and service providers. It conceives and delivers interactive content and services with which brands can engage and secure transactions from their consumer base. This activity takes place across and can integrate multiple platforms, including interactive television, the web, fixed and mobile phones. The Company's client base includes broadcasters & content owners, brand owners and advertisers, gaming operators, and retailers and service providers.
YOOMEDIA PLC