- New, single-device nationwide toll management
offering
- New connected vehicle payment solutions
- Digital license plate processing capabilities
- Innovative partnership to pilot connected vehicle toll
transactions with a California
toll authority
MESA,
Ariz., July 18, 2022 /PRNewswire/ -- Verra
Mobility Corporation (NASDAQ: VRRM), a leading provider of smart
mobility technology solutions, announced today new solutions and
capabilities that improve efficiencies, reduce costs and enhance
compliance for commercial fleet customers. Verra Mobility's
Commercial Services business expands its portfolio of
industry-leading offerings with a new nationwide toll management
solution using a single device and new payment solutions and
transaction capabilities for connected vehicles via strategic
partnerships.
"As vehicles increasingly become more technologically enabled
and connected, they not only allow for the solutions we have
announced today, but also the ability to reimagine the future of
fleet services for our current customers and new segments," said
Steve Lalla, executive vice
president of Commercial Services, Verra Mobility. "These
partnerships provide us access to cutting-edge technology and
industry thought leaders."
Single-Device Nationwide Toll Management
Solution
Verra Mobility unveils TollLink™, a
nationwide toll management solution that leverages a single device
and connects fleets operating across the U.S. with regional toll
savings at scale. Developed to simplify toll management for
fleet vehicles that frequently toll across regions, TollLink
eliminates the need for fleets to acquire multiple transponder
devices and manage multiple toll accounts. The new fleet offering
simplifies operations, reduces tolling expenses, and enables fleets
to travel without friction across toll regions in the U.S.
Innovative Connected Fleet Payment Solutions
with Car IQ
Verra Mobility and Car IQ, an innovative payment
solution for connected fleets, signed an agreement to enable toll
payment integration with the Car IQ vehicle payment platform. The
Car IQ platform enables vehicles to automatically conduct secure
and autonomous transactions with payment networks, banks and
merchants. Through this partnership, Car IQ can provide the power
of Verra Mobility's comprehensive tolling solution to their growing
customer base.
New Innovation Agreement to Pilot Connected
Vehicle Tolling and Road Usage Charging (RUC) in California
In collaboration with California toll agency, Transportation
Corridor Agencies (TCA), Verra Mobility is exploring potential uses
of connected vehicle and blockchain technology to automate tolling
transactions to enhance accurate and transparent tolling for
private, rental and leased vehicles. Topics under study include the
ability to instantly record tolling transactions and accurately
determine miles driven across multiple networks and toll
rates.
Digital Plate Processing with Reviver
Verra Mobility has entered into a commercial
agreement with Reviver, the industry pioneer of digital license
plates, to enable processing of Title and Registration transactions
for digital plates. Verra Mobility's modernized Title and
Registration platform will process critical vehicle compliance
transactions for Reviver's digital license plate fleet customers.
As part of the partnership, Reviver will also be able to offer
industry-leading toll management solutions through their fleet
sales channels.
Verra Mobility's toll management services are used by major
fleet owners, operators and managers to conveniently and
automatically pay tolls for more than 5.8 million vehicles globally
while also protecting vehicle owners against costly toll fines and
burdensome administrative tasks. The company's proprietary software
technology allows for tolls to be matched to a specific vehicle and
driver so that tolls can be accurately and reliably billed and
collected on behalf of, or directly from, its customers.
About Verra Mobility
Verra Mobility (NASDAQ: VRRM) is a leading provider of smart
mobility technology solutions that make transportation safer,
smarter and more connected. The company sits at the center of the
mobility ecosystem, bringing together vehicles, hardware, software,
data and people to enable safe, efficient solutions for customers
globally. Verra Mobility's transportation safety systems and
parking management solutions protect lives, improve urban and
motorway mobility and support healthier communities. The company
also solves complex payment, utilization and compliance challenges
for fleet owners and rental car companies. Headquartered in
Arizona, Verra Mobility operates
in North America, Europe, Asia
and Australia. For more
information, please visit www.verramobility.com.
Forward Looking
Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
about Verra Mobility's plans, objectives, expectations, beliefs and
intentions and other statements including words such as "hope,"
"anticipate," "may," "believe," "expect," "intend," "will,"
"should," "plan," "estimate," "predict," "continue" and "potential"
or the negative of these terms or other comparable terminology. The
forward-looking statements herein represent the judgment of the
Verra Mobility, as of the date of this release, and Verra Mobility
disclaims any intent or obligation to update forward-looking
statements. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those currently anticipated. This press release should be read
in conjunction with the information included in Verra Mobility's
other press releases, reports and other filings with the SEC and on
the SEC website, www.sec.gov. Understanding the information
contained in these filings is important in order to fully
understand Verra Mobility's reported financial results and our
business outlook for future periods. Actual results may differ
materially from the results anticipated in the forward-looking
statements and the assumptions and estimates used as a basis for
the forward-looking statements.
Additional Information
We periodically provide information for investors on our
corporate website, www.verramobility.com, and our investor
relations website, ir.verramobility.com.
We intend to use our website as a means of disclosing material
non-public information and for complying with disclosure
obligations under Regulation FD. Accordingly, investors should
monitor our website, in addition to following the Company's press
releases, SEC filings and public conference calls and webcasts.
Media
Relations:
|
Investor
Relations:
|
Eric Krantz
|
Mark Zindler
|
erickrantz@verramobilitycom
|
mark.zindler@verramobilitycom
|
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SOURCE Verra Mobility