PayByPhone, a wholly owned subsidiary of Volkswagen Financial Services AG, is one of the fastest growing mobile payments companies in the world, processing more than £242 million globally in parking transactions per year. PayByPhone’s mobility services allow local authorities and private car park operators to remove their pay-and-display machines in favour of cashless parking, which has meaningful benefits to both clients and end-users. For councils across the UK, PayByPhone’s mobile parking payment system saves tax payers’ money on the maintenance of pay-and-display machines and reduces crime in the form of vandalism and risk of theft. The use of PayByPhone is the environmentally-friendly option, with fewer people on the road, collecting money from machines. PayByPhone UK is headquartered in Hatfield, Hertfordshire.