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L.A.'s New High-Tech 'Coin & Card' Parking Meters Debut

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Los Angeles has thousands of broken meters, frustrating confused drivers and concerned city budget officials. “Instead of carrying a bagful of quarters to feed the meter, drivers will now be able to pay quickly and conveniently with a credit card," explained Mayor Antonio Villaraigosa this morning as he unveiled "coin and card" parking meters in Los Feliz, where 200 meters were installed.

The new meters, purchased from the San Diego-based IPS Group, Inc., will accept coins and debit and credit cards (Visa, Mastercard and Discover). As part of a pilot project that began 18 months ago, 500 were installed in the Little Tokyo and downtown neighborhoods yielding revenues that were up 40% on average.

Today's announcement meant 10,000 more will be installed throughout the city, generating an estimated $1 to $1.5 million annually in net meter revenue. In all, the city has around 40,000 meters.