09-Feb-23 10:00

Derek Tan, Founder, Sonicboom

Most of us are probably familiar with cashless and ticketless parking, in fact, smart parking in Malaysia is valued at USD 450 million from 2022-2030 whereas the figure stands at USD 8 billion in Southeast Asia. However, surprisingly, the Southeast Asian market for parking is still 90% cash-based. This could be down to parking space owners not understanding or fearing the switch to digital. Started by 3 industry veterans, Sonicboom looks to transform traditional cash payment parking businesses to a 0 capital expenditure low operational expenditure business, by having an all-in-one terminal software that eliminates the need of upgrading the software to keep up to date with the latest payment features.