How Much Does It Cost to Build a Cashless Parking App Like the RingGo App

Do you also plan to visit someplace, such as the cafe, restaurant, shopping store, or any other place, but don't find an area or place for parking, even in the parking lots?

Then, cashless parking apps are the best solution for you. These apps not only allow you to park your vehicle conveniently but also allow you to pay without using cash.

It saves time as you don't have to waste time searching for cash or change. We often need our cars or any other vehicle while travelling, so with these apps like RingGo, you can easily find a parking spot.

If you are considering building a cashless payment app like the RingGo app, you can definitely go for it, as it is also a rewarding and profitable business idea that meets the needs of people who struggle to find a parking spot.

But what are the costs to develop such an app? So, let's explore more about the specifics, the cashless payment app, the app development costs, and more that will make your cashless parking app dream come true.

 

What is Cashless Parking App?

As the name suggests, a cashless parking app allows you to locate, reserve, and pay for parking spots through your smartphones. It is a digital solution that eliminates the need for cash or physical tickets.

Users can easily find parking spots nearby and pay through secure digital payment options, such as debit/credit cards, digital wallets, or the UPI app.

RingGo is a popular example of a cashless parking app that has simplified parking for drivers across different cities and towns.

What is the RingGo App?

RingGo is a popular cashless parking app widely used in the UK and some parts of Europe. This app has been helping drivers find and pay for the parking spot conveniently.

The RingGo app was introduced in 2005 and lets users find the parking space digitally without making payments with cash. It even allows you to extend the parking time if you can’t come on at your previously selected time.

It also reminds you to stop your session once you return to your vehicle so that you pay only for the time you park your car. It is a simple and efficient cashless parking app that offers users an alternative to traditional parking meters.

Why is Investing in a Cashless Parking App Beneficial?

Based on various studies, the Global cashless parking app market is projected to be worth US$ 62.2 Million. With the increasing issue of parking spot availability, the market is expected to go upto US$ 358 Million by the end of 2032.

These stats alone show why investing in a cashless parking app like Ringo App is beneficial. However, here are more reasons to help you know that investing in such an app is a smart move for both businesses and city planners.

Enhanced Convenience for Users

A cashless parking app increases the convenience for users because it makes the parking process simple.

It allows users to easily find, reserve, and pay for parking spots using digital payment modes from their mobile phones.

It eliminates the need to look for change or wait in line, encouraging users to use these apps and making it a great business idea.

Increased Efficiency and Reduced Costs

As a cashless parking app reduces the need for physical ticket machines and cash handling, this helps save time and money spent on maintenance and labour.

The app’s efficiency is increased because of less that mistakes are often caused during manual processes.

Real-time Data and Analytics

When using the app, the user can easily find which parking space is busy, moderate, or quiet. It provides improved data quality on parking patterns, peak hours, and user behaviour, which helps businesses optimise parking spots and manage traffic flow.

Environmentally Friendly

A cashless payment system also supports eco-friendly initiatives by reducing the need for cash and paper tickets because drivers only search for and pay for parking spaces on the app.

Enhanced Security and Transparency

Payments are made digitally on a cashless parking app, enhancing security and transparency while handling transactions.

It ensures users that their data is protected, which can be the concern for many due to increasing cyber threats and allows parking providers to manage transactions without dealing with cash.

Better Customer Engagement and Loyalty

One of the best reasons you should invest in cashless payment apps like RingGo includes features like loyalty programs, discounts, or in-app promotions, which help attract and engage more users. It helps your business by building loyalty and improving brand reputation.

What are the Key Features of a Successful Cashless Parking App like the RingGo App?

When building a cashless parking app, you should know what features it should have that will make it user-friendly and valuable. Here are the essential features of a cashless parking app like the RingGo app.

Real-Time Parking Availability

Like you can see the driver details and real-time tracking on apps like Uber and Bolt, a cashless parking app also offers real-time parking availability where users can find open spots quickly.

The app is connected to sensors or a parking management system with the help of these features that detect and tell the user about the availability of the parking spots. It saves time by reducing the frustration of looking for a parking space.

Easy and Secure Payment Options

A cashless payment app includes multiple and secure payment methods, which is essential for any cashless parking app offering the option of digital payments.

The app should allow users to pay through credit/debit cards, digital wallets, or mobile payment options like Apple Pay and Google Pay.

Payment gateway integration ensures that users' data stays protected and allows them to make payments easily.

Booking and Reservation Capability

The option to book and reserve a parking spot ahead of time is the best for users who often struggle to find the space to park their vehicle, especially in busy areas or during peak hours.

It provides driver peace of mind that they just have to go and park their vehicle at the allotted space.

GPS and Navigation integration

GPS integration allows the app to find the available parking space near the user’s location. The navigation features give them directions to reach their chosen spot.

This feature improves user experience by saving users time manually searching for directions. It becomes helpful in large parking areas or when you are unfamiliar with the location.

Parking Time Extension

An app like RingGo allows users to extend their parking time, making it convenient for users who might be delayed or want to stay longer than they initially planned.

You can include this feature in your app when building a cashless parking app like the RingGo app, as it will help enhance user satisfaction.

Push Notifications and Reminders

Push notifications are essential as they help users remind that their session is about to end, confirm reservations, and parking-related offers.

For example, if your sessions end, the app will notify them 10 minutes earlier or allow them to extend the session if required.

License Plate Recoginiton (LPR)

LPR uses cameras to read vehicle license plates, allowing you to enter or exit the parking lots. This feature eliminates the need for tickets and reduces wait times. The system recognises your car’s license plate and lets the vehicle in.

Customer Support

A cashless payment app often features in-app customer support, such as live chat or an FAQ section. Whether a payment problem, a reservation error, or general app questions, it offers instant assistance to users if they face any issues.

More Essential Features of a Cashless Payment System

Here are the additional essential and advanced features other than the ones mentioned above. You may also require these features to build an app comparable to RingGo.

User Registration

It allows users to sign up, manage their profiles, and store payment details securely and easily.

Feedback and Rating

Users can review parking locations and rate the app, which improves service transparency and encourages users to return.

Multi-Language Support

This feature includes multi-language support, increasing the app's reach across different language-speaking regions.

Real-Time Parking Analytics

It provides data insights to users and parking providers.

User-Friendly Interface

The app should have a clean and intuitive UI/UX design so that users can effortlessly search, book, and pay for a parking spot.

Parking History and Receipts

Users can track their parking history and download receipts, making it a beneficial feature for regular commuters.

Admin Dashboard for Parking Providers

A backend dashboard allows parking providers to manage parking spaces, track usage, and monitor payments.

How Much Does it Cost to Develop a Cashless Parking App like RingGo App?

The cost of developing a cashless parking app like the RingGo app ranges between $20,000 to $100,000 +.

However, its development costs depend on various factors, including the features you want to add, the design complexity, the location of the development team, the technology stack, the developer’s expertise, and many more factors.

That is why it is essential to carefully plan the feature you require, choose the right development team and approach, and choose a UI/UX strategy.

Here is a breakdown of the estimated costs of building a cashless parking app like the RingGo.

Cost of Basic Development Stages

The development process has various stages, each with its own cost. These prices affect the overall cost of cashless parking app development. Let’s explore these stages and their estimated costs.

Research and Planning

This stage involves market research, feature planning, and competitor analysis. It is a development process roadmap, which includes the features, technologies, design, and functionalities used to build an app.

Cost: $2,000 - $5,000

UI/UX Design

The app design should include a user-friendly interface. It allows users to navigate the app easily, increasing user satisfaction and engagement.

Cost: $5,000 - $15,000

Frontend Development

Frontend development involves creating the visual aspects of the app, depending on the user analysis. A cashless parking app will include a screen for parking search, booking, payment, and notifications.

Costs: $10,000 - $20,000

Backend Development

Backend development costs can vary depending on the developer’s skills. It includes database setup, servers, and APIs. They are essential for a cashless parking app because they handle user data, payment processing, and real-time parking updates.

Costs: $15,000 - $30,000

Third-Party Integrations

Integrations of GPS services, payment gateways, and any other third-party services can add to the costs of the app.

Costs: $5,000 - $10,000

Testing and Quality Assurance (QA)

Testing is crucial to any development process. It allows developers to catch and fix bugs, ensure device compatibility, and enhance the app’s performance. QA can include either manual or automated testing using automation tools.

Costs: $5,000 - $10,000

Deployment

After developing a cashless parking app, the app is deployed to app stores where you need to follow extra steps, such as documentation, submission guidelines, etc.

Costs: $1,000 - $3,000

Maintenance and Updates

Ongoing app maintenance is required, including updating the app for OS changes, adding new features, and fixing bugs if needed.

Costs: 15-20% of the total development cost

Tech Stack Required for a Cashless Parking App

Developing a cashless parking app involves various technical components and new technologies. It helps ensure the app is working smoothly and enhances scalability and security.

Depending on your budget and scalability requirements, many tech stacks are utilised, from the frontend user experience to backend systems. Here's a comprehensive breakdown of the tech stack required.

For the user interface, many programming languages like JavaScript, Typescript, frameworks like React Native, Swift, or Kotlin, and design tools like Figma, Adobe XD, or Sketch are used.

Many other tech stacks are used for backend development, API integration, cloud services, and DevOps and Deployment, which allows for the optimum functioning of the app.

The table below includes detailed information about the tech stack and its estimated costs so you can have a better understanding. They also influence the cost of building a cashless parking app like RingGo.

Cost Comparison Based on Platform

The platform you choose for your app, such as iOS, Android, or both, will play a huge role in the total development cost.

The cost of making an iOS-only app or android-only app will generally costs less than building separate native apps for iOS and Android. The price is less because a single codebase is required to develop and maintain the app.

You can also opt for cross-platform app development as it also save cost by using a single codebase, reducing development time for both iOS and Android.Here is a detailed comparison of costs based on platform options.

What is the Role of Maintenance and Support in Total Cost?

Maintenance costs usually account for 15-20 % of the initial development costs per year. Regular maintenance and support are required when developing a cashless parking app like RingGo.

However, it also impacts the cost of the development project. It is equally important to focus on this stage as it is on the initial development. How well you ensure your app maintenance tells you about its long-term success.

With continuous emerging technologies, it is necessary to ensure regular updates. It will help ensure your app stays compatible with operating systems and devices.

Whether for bug fixes, security patches, server and infrastructure maintenance, or user support, the mobile app development cost will vary depending on these factors.

You can review the table below to learn about the total maintenance and support costs.

Location-Based Cost Variations in Development Teams

When considering the development of a cashless parking app like the RingGo app, one of the significant factors that influence the cost is the location of the development team.

However, choosing the right development team that meets your requirements and budget is also essential.

Developers' hourly rates vary depending on the country or region, while many teams offer a more affordable rate and the best app development results.

The cost in North America or Western Europe tends to have higher rates than in Eastern Europe and Asia countries. The location-based cost variations in development teams are shown below.

Estimated Cost Range to Build a Cashless Parking App like RingGo

We know the cost of building a cashless parking app varies because of various factors, like technology stack, chosen platform, maintenance, and the development team’s location.

However, the features you choose for your website should also be estimated carefully before developing a cashless parking app.

The basic version, like MVP, includes only the essential features, such as location-based parking spot availability, basic payment gateway integration, and user registration.

On the other hand, a fully-featured app or custom app includes more advanced features and functionalities, such as GPS navigation, real-time notifications, dynamic pricing, advanced security features, user profiles and more.

The number of features impacts the cost of developing such an app. Here is an estimated cost based on the MVP version and fully-featured app.

Technical Aspects Influencing the Cost

The features, location, developer’s expertise, ongoing maintenance, etc, are not the only factors that influence a cashless parking app's costs. Many technical aspects influence its costs, and they are as follows:

App Design (UI/UX)

A well-designed UI/UX are essential for any app. They help create a positive first impression and build brand loyalty. A user-friendly interface also attracts more customers and increases downloads. The design complexity and the user flows impact the development time and cost.

Payment Integration

The more payment methods you integrate into your app, the more cost you will incur for developing the app. Payment gateway development is important for a secure transaction, allowing users to pay online for parking conveniently.

Real-Time Features

As mentioned above, whether you are integrating basic or advanced features, the total development cost will be impacted according to the features you have integrated.

Backend and Server Infrastructure

If you are building a cashless parking app, you will want to create a reliable one that supports real-time data exchange and required cloud services like AWS, Google Cloud, or Microsoft Azure. They will incur extra costs for storage, hosting, and data management.

Security and Compliance

Data security is very important, and your users must feel secure while paying through your app. So, ensuring compliance with local regulations like GDPR and integrating strong encryption and authentication features will lead to more development costs.

Cost Optimisation Tips for Cashless Parking App Development

Many small businesses or those starting to start their new business may have less budget but also don’t want to compromise with the app’s quality. For this reason, there are many cost optimisation techniques that you can use for cashless parking mobile app development.

Start with an MVP

Build your website with an MVP and include the necessary features. You can introduce additional features after the MVP is successful.

Outsourcing to Cost-Effective Locations

Consider outsourcing to regions with lower development costs. They also have skilled developers, so you don’t have to worry about the development team's reliability and work quality.

Use Cross-Platform Development

Cross-platform development can be the best cost-optimisation option for building a cashless parking app like the RingGo app.

Utilise Open-Source Tools

You can use open-source tools, which are usually free of cost, to build your cashless parking app. These tools will help reduce development time and costs.

Consider Cloud Services

Using cloud services like AWS or Google Cloud can offer scalability and doesn’t require heavy infrastructure investment. You can also use cloud-based databases and serverless cloud computing for lower maintenance costs.

How Arramton Can Help Build a Cost-effective Cashless Parking App?

Cashless parking apps like RingoGo make parking easier, faster, and more convenient for users. This is because the users can pay directly via smartphone and book their parking spots.

The app can increase revenue through dynamic pricing, which is beneficial for businesses to become profitable. Therefore, a cashless parking app is a smart and efficient way to manage parking that benefits not only the users but also the operators.

Are you looking for a mobile app development company that can help build a cost-effective cashless parking app? Arramton can help you make the best cashless parking app, which will be cost-effective and meet your needs.

Their expert developers offer a complete solution that covers all stages of the app development process.

So, for the best mobile app development services, you can get in touch with us to build a cashless parking app like the RingGo app that will meet your goals and deliver an extensive user experience.

Conclusion

The RingGo app is popular in the UK for finding, booking, and paying for the parking spot. If you are also thinking of building a cashless parking app like RingGo, then you can be assured that it is an investment in the future.

The cost for developing such an app is around $20,000 to $100,000 +.  Without careful planning, the right features, and an efficient development process, the best cashless parking app can be developed that offers a digital solution to meet the parking needs of the users.

While the costs can vary, depending on various factors like features, platform chosen, development approaches, development team location, and others, the revenue and enhanced user experience make this a profitable and successful business venture.

Frequently Asked Questions

Q1 What is the main benefit of a cashless parking app?

Ans The cashless parking app offers the best parking experience by allowing drivers to find, book, and pay for parking spaces easily.

Q2 How long does it take to build a cashless parking app?

Ans For building a cashless parking app, the timeline usually varies based on factors such as complexity and features. However, it may take between 4 to 9 months.

Q3 Is it possible to add custom features to my cashless parking app?

Ans Yes, you can add custom features to your cashless parking app, such as loyalty rewards, dynamic pricing, and IoT integration. It will help enhance user experience but may lead to increased development costs.

Q4 How does dynamic pricing work in a cashless parking app?

Ans Dynamic pricing helps adjust the parking rates based on the user's demand, location, and time. It encourages users to park during off-peak hours.

Q5 Can I integrate multiple payment options in my cashless parking app?

Ans Yes, as these apps involve payment without cash, so this app offers various payment options like digital wallets, debit/credit cards, and UPI.