www.lo-q.com
Lo-Q plc is an AIM (Alternative Investment Market - London Stock Exchange) listed company with active subsidiary companies in USA and Canada. Lo-Q design, install and operate systems which allow members of the public to make ride and show reservations when they visit a theme park or other attraction. Their new flagship product, VQ²º²º is a true virtual queuing system for theme parks. Lo-Q's proprietary hand-held units, called Q-bots, are used in major theme parks around the world.
Lo-Q teams with MasterCard to develop new theme park payment device
Lo-Q (LON:LOQ), the provider of virtual queuing systems used in theme parks, is teaming up with MasterCard to create its latest innovation.
Under the terms of the memorandum of understanding the pair will develop a new contactless payment device that combines the card gaint’s PayPass payments technology with Lo-Q's software.
Once developed, they will then promote the combined product to theme parks, water parks and other attractions.
Lo-Q chief executive Tom Burnet said: "This really is an exciting partnership for all concerned.
“Lo-Q's queuing solutions are highly sophisticated and routinely trusted by some of the world's largest, most demanding attractions operators.
“Visitors like our products and they get much more from their days out by leaving the queues behind and focusing solely on having fun.
“By combining these qualities with the world-class payment technologies and reach offered by MasterCard means that we can now work together to create new and exciting growth opportunities for both our firms."
Lo-Q’s flagship offering is the Q-bot, a handheld device that allows theme park visitors to queue virtually. After making a reservation with a Q-bot unit, the system registers that person or group into a virtual queue.
Guests are informed via the Q-bot’s display, and with a beep and vibration, that their ride is ready, while the device can also inform users of a ride’s breakdown and allow rescheduling of reservations.
The advantage of Q-bot is that it enables theme park visitors to reserve their rides without having to queue, so a visitor does not have to spend their time waiting in a line and he or she can spend time enjoying other attractions or do something else at the park, such as go to a restaurant.
A wristband product for water park visitors and a smart phone app can also provide a similar service
Lo-Q operates primarily on a revenue share basis with its clients, thus sales are hugely skewed towards the summer but the vast majority of deals are actually signed over the winter off-season, Jeans explained.
