Magazine article American Banker

Mellon, N.Y. Port Authority in Card Deal; Bank Will Process Payments Made for Parking at Agency's Airports

Magazine article American Banker

Mellon, N.Y. Port Authority in Card Deal; Bank Will Process Payments Made for Parking at Agency's Airports

Article excerpt

Mellon, N.Y. Port Authority in Card Deal

Bank Will Process Payments Made for Parking at Agency's Airports

Mellon Bank has signed an agreement with the Port Authority of New York and New Jersey to process payments made by credit card for parking at the agency's airports.

The program, to begin next month, will be the largest bank card acceptance program for airport parking. It is part of a $35 million revamping of the Port Authority's system of revenue collection.

"From an audit perspective, the new system provides tighter controls," ensuring that customers are charged and pay the right amount, said Curtis Dennis, program manager for airport terminal services at the Port Authority.

Other Areas Targeted

Parking lots - along with fastfood restaurants, movie theaters, and toll roads - are among the areas targeted by MasterCard and Visa in the past year with special services designed to get customers through lines quickly while reducing the risks of fraud and other costs associated with handling cash.

The deal is Mellon's first to do processing for an airport authority. "The card associations are opening up new markets, and this is one of the first to take off," said Nancie N. Lynch, assistant vice president at Mellon.

"The Port Authority is looking for ways to cut expenses and move people through as quickly as possible, so we're making the payment mechanism more efficient," said Robert S. Newman, vice president of technology development, new markets, at MasterCard.

10 Million Cars a Year

Sources close to the project said that Port Authority garnered $80 million in 1990 from fees charged in the parking lots and garages at the three metropolitan airports, Newark International, LaGuardia, and Kennedy International. Port Authority officials declined to confirm the figure. …

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