The Parking Problem with Accepting Infected Cash Payments

With the advent of the COVID-19 virus the way we do business, will not only change but will be forced to change, with a fast conversion over from cash to electronic payments and electronic banking. Countries and regions with high cash use may be forced to move away from cash by the banking industry or Government health requirements.  

The World Health Organization has urged people to avoid cash and to use cashless payments to reduce the risk of the transmission of COVID-19 in this current environment as the virus may linger on cash notes when passed from one person to another.  

Cash notes may remain in circulation between 5 to 15 years and are the perfect environment for microbes to settle. A 2014 study (the Dirty Money Project), biology professor Jane Carlton found that American notes carried more than 3,000 types of bacteria. A further U.S. Air Force study found that 94% of notes collected in Ohio were infected with pathogens including E. coli, Salmonella, and Staphylococcus aureus. Its clear that counties will need to move from cash to electronic payments in the very near term if it wants to shut out cash as a method of passing on a virus.

Its no coincidence then that on the chart below, where cash is used far more than in any other method of payment, the top countries were the hardest hit with COVID-19 spread.

Saudi Arabia

In Saudi Arabia, in 2016, the percentage of payments made by cash was 37.5%. This barely moved as a projection for 2021. I suspect this forecast number will now be changing significantly.

South Africa

In South Africa, in 2016, the percentage of payments made by cash was 58.8%. This again remained similar for the projection for 2021.  I suspect this forecast number will now be changing significantly.

The Poor

The main problem is that in many of these countries, including Saudi Arabia, many of the people don’t have bank accounts. In Saudi Arabia, this is estimated to be up to 25% of the country’s adults don’t have a bank account and in South Africa that number is up to 40%, meaning cash is the only option. 

Parking Apps

The introduction of banking or parking apps, more electronic payment methods and the removal of cash as a preferred payment method, by demand or by desire, will need to be quickly adopted to remove the cash note as a medium for the spread of COVID-19.  A more hygienic method of paying for parking and the removal of high touch areas will be required if you want your parking business to remain at the forefront of a customer demand.

Parking Attendants / PPE

Its time to look after our staff. Businesses that still have Attendants will have a responsibility to create safer payment methods. These will mostly likely be airports and Hospitals. The required Health and Safety of your staff and the possibility of your staff passing the virus to your customers should make this task a major priority. New electronic payment Apps, electronic payment methods (EFT) and giving your staff appropriate PPE would be a minimum requirements you should be undertaking and as a goal to stay in business.

COVID-19 virus will change the way we operate our parking businesses forever. The way we did it before is no longer appropriate. Investment in new technologies and the requirements of Government and customers will mean you must be planning for these changes or you risk going out of business.

Kevin Warwood