Provides a faster, more convenient traveling
experience for tourists who rent vehicles and travel the more than
4,600 km of toll roads in Italy.
MESA,
Ariz., Oct. 17, 2024 /PRNewswire/ -- Verra
Mobility Corporation (NASDAQ: VRRM), a leading provider of smart
mobility technology solutions, announced today it has expanded
electronic toll payment programs with two global rental car
companies by making its automated tolling service available for
purchase in more rental car locations throughout Italy. The expansion paves the way for
increased consumer adoption of the services introduced earlier this
year with rental car customers that serve over 25% of the Italian
rental car market, with an estimated combined fleet of 50,000
vehicles.
Verra Mobility's proprietary solution enables safer, faster and
seamless tolling for renters. Renters who choose the optional toll
service use an installed electronic toll device which is associated
with their specific rental agreement and pay one simple daily fee
that includes the costs of all tolls they may encounter during
their journey. The solution enables access for 100% of the tolling
network in Italy via its strategic
partnership with Telepass. By enabling electronic tolling, renters
can use "fast lanes" where tolls are charged electronically,
creating a barrier-free experience.
Italy has one of the largest
networks of toll roads in Europe,
with over 4,600 kilometers of tolled motorways, and is one of the
top tourist destinations in the world, creating high traffic
especially during peak season. Italy welcomes more than 134 million tourists
annually, prompting a surge in short-term rental vehicle use. An
average of 137,000, and a peak of 164,000, rental vehicles use
Italy's tolled motorways every
year.
"Having to wait in queues and pay tolls manually with a credit
card when renting a vehicle can be frustrating, time consuming and
cause traffic congestion," said Tsjerk-Friso Roelfzema, Senior Vice
President and General Manager for Verra Mobility in Europe. "The sheer volume of tolled motorways
and the number of tourists in Italy showcases the necessity of having an
efficient and automatic toll program in place. We are proud to
partner with two of the largest rental car companies in
Europe to enable this service for
their customers. Together we successfully launched programs
enabling easy and accessible tolling for tourists and local
renters."
In 2023, Verra Mobility announced its partnership with Telepass,
an Italian-based leader in integrated mobility, to enable expanded
toll payment coverage for short term rentals. The company's
partnership with Telepass has enabled Verra Mobility to roll out
its tolling solution in Italy.
Today, Verra Mobility offers tolling programs in Ireland, Spain, and Italy with capabilities to enable the service
in Portugal and France.
"Telepass is committed to making car travel easier, safer, and
smoother throughout Italy,
covering 100% of the national territory," said Paolo Malerba, Chief Business Sales Officer of
Telepass. "Verra Mobility is an ideal partner to achieve our goal,
and this collaboration looks very promising in simplifying travel
in Italy and beyond."
For more than 15 years Verra Mobility has provided toll
management solutions specifically designed for fleet owners,
operators, managers and lessors to streamline costs and allow for
seamless transportation as vehicles access more toll roads. Verra
Mobility's toll management services automatically pay over 300
million annual toll and violation transactions for more than seven
million vehicles globally while also protecting vehicle owners
against costly toll fines and menial administrative tasks. Verra
Mobility'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, our customers.
For more information about Verra Mobility's toll management
solutions, visit www.verramobility.com/european-solutions.
About Verra Mobility
Verra Mobility Corporation
(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
We describe initiatives that drive our business and future
results in this press release. Such discussions contain
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange Act").
Forward-looking statements are those that address activities,
events, or developments that management intends, expects, projects,
believes or anticipates will or may occur in the future. They are
based on management's assumptions and assessments in light of past
experience and trends, current economic and industry conditions,
expected future developments and other relevant factors. They are
not guarantees of future performance, and actual results,
developments and business decisions may differ significantly from
those envisaged by our forward-looking statements. We do not
undertake to update or revise any of our forward-looking
statements, except as required by applicable securities law. Our
forward-looking statements are also subject to material risks and
uncertainties that can affect our performance in both the near-and
long-term. In addition, no assurance can be given that any plan,
initiative, projection, goal, commitment, expectation, or prospect
set forth in this press release can or will be achieved. These
forward-looking statements should be considered in light of the
information included in this press release, our Form 10-K and other
filings with the Securities and Exchange Commission. Any
forward-looking plans described herein are not final and may be
modified or abandoned at any time.
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.
CONTACT: Eric Krantz,
Eric.Krantz@verramobility.com
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