Parkonomy is the answer to the new £1 coin! has the answer for hundreds of car park operators wondering when and how much to invest in new ticket machines or upgrades when the new one pound coin is introduced across the UK in March 2017. This comes after the new £5 note was released in September 2016.


As a technology-led consumer-facing car park search and pay website, consumers can use for their entire parking transaction, from searching for the most convenient car park in their town or destination, to paying for it, all online via their phone, tablet, laptop or desktop.  Many of’s parking operators have found that by reducing the number of pay and display machines at their car park sites, they dramatically reduce other costs incurred because of vandalism or theft.


By becoming a partner and removing or reducing the amount of payment machines from car parks, car park operators can reduce their overheads required for installing, servicing and operating payment machines on a day-to-day basis, driving improved margins direct to the bottom line. Lots of clients are already using Parkonomy’s platform as a cashless alternative to pay and display machines.


The new £1 coin is a bimetallic, 12-sided coin to replace the current £1 coin, which has been in circulation since 1984. It will be slightly bigger than the old coin and have an outer gold coloured ring which will be made from nickel-brass and a silver inner made from a nickel-plated alloy. As the current coin design has been in circulation for such a long period of time, there are now a significant amount of counterfeit coins in circulation. The new coin has been specially designed with new security features, including a ‘hidden high security feature’ which will be used in an attempt to prevent forgery.


Jim Harrow, Head of Business Development at said: “The introduction of new currency can cause a whole host of problems for the parking industry and with the cost of replacing payment machines so expensive, we believe that cashless payment is the way forward. Our partnerships with parking operators are flexible and convenient and we have many satisfied customers who are enjoying the ongoing benefits of partnering with a cashless parking solution provider.” continues to invest in new technology and innovative thinking to ensure they stay ahead of the market place and industry trends.