One of the UK’s largest parking apps has brought in a staggering £30million from fees over the last year despite drivers complaining about the rising cost of motoring.
RingGo is one of the most commonly seen parking operators around the UK as it provides payment measures for hundreds of car parks and on public roads.
The app charges local councils to operate parking facilities around the UK, which is usually passed on to drivers in the form of a “convenience fee” which costs 20p.
Accounts filed with Companies House found that RingGo had a total turnover of £29.9million in 2023, up from £25.8million the previous year.
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RingGo had its most successful year in 2023
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Throughout 2023, the company also saw its user base grow dramatically by adding an extra 600,000 users, up to 10 million.
Last year, the company announced that there were around 250 million cashless parking transactions in Great Britain every year.
RingGo, which has around 17,000 locations across the country, allows drivers to ditch their cash and pay for their parking through its app.
Drivers can then select where they want to park, as well as having the added benefit of extending their session, change the selected vehicle and download receipts.
Peter O’Driscoll, managing director at RingGo, said: “The National Parking Platform has already delivered competition in the phone parking app market where multiple providers have been deployed across eight councils.
“We have seen a varied range of convenience fees implemented, with some charging no convenience fee, and others charging between 10p-20p.
“Motorists now have the choice to shop around and pay for the product they prefer to use or at the price point they are happy with,” he told The Telegraph.
A statement from the board, as reported by City A.M., stated that it was pleased with how the company had performed and how 2023 was a record year.
It added: “We have also seen a growth in new smaller private parking operator sites which have provided additional opportunity for growth.
“The company expects to continue to grow and scale its operations as it looks to explore new technologies and new markets for its products.”
It comes at a time when many are concerned about losing the ability to pay for their parking, especially those who live in rural areas or are not used to using technology regularly.
Previously, research found that 83 per cent of drivers said they wanted to ditch parking apps and would prefer to return to older methods of using cash or coins to pay for parking.
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The research found that many people preferred paying with cash rather than via their phone
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Many cited the frustration of having to download and install a number of different apps simply to pay for their parking, while others were concerned about online fraud.
