FAQ
Overview
What is CYCLE?
CYCLE is a parking co-op for customers of retail businesses - like restaurants, bars or other stores - located in parking-limited and busy areas. The co-op allows customers to complete trades of parking spots with best access to chosen retail destinations using a micro-lot format.
The format allows incoming customers to get great parking as soon as they arrive, and allows leaving customers to earn a discount on their recent purchase at chosen local retail.
What problem does CYCLE solve?
The problem is that parking spots aren't reliably available exactly when & where we want to go -- this is especially true when parking at the prime hours of a busy parking area with few, or no, open parking spaces. This uncertainty of how quickly, or how close, or even whether you will be able to park to your destination can can make the pain of parking not worth the retail value.
CYCLE's mobile format creates organization around these parking areas at high-volume times to make it easier to park quickly near the place you want to be. So that you can know you'll park quickly, close to your destination before you leave your driveway.
Does CYCLE sell parking spots?
No. CYCLE spots are always free for anyone to park in. If someone is charged by CYCLE, it is for the time and effort that a user parked in a CYCLE Lot makes to make sure that person gets their spot.
Do I have to communicate with other users to get their spot? Is CYCLE like a social network?
CYCLE's parking format - using specific timing and easy location of spots to coordinate and facilitate trades between users - is designed so no communication between users is required.
Why should I pay for parking others might get for free?
CYCLE users don't pay for parking spots, only exclusive access to the spots created by users parked there. Payments made through CYCLE when users park go primarily to parked users who help facilitate the trades.
Parking is a game of chance, with the chances decreasing more during busy hours. With bad luck, you can lose big on time and money while trying to park. CYCLE wants you to park for free, if you can, and benefit from the possible effort you took to get a spot while also letting others elect to increase their chances of parking where they're going exponentially.
Can CYCLE fix every kind of parking difficulty?
We wish! CYCLE is designed to serve areas and places where parking is difficult, but regular turnover happens over several hours. CYCLE's format isn't designed to make parking better at major, singular events where everyone is parking and leaving at the same time, like sporting events.
CYCLE App
Where can I download the app?
CYCLE app is free and available to download on in the Apple App Store.
Follow the steps on "Becoming a User" page to be able to park in a full lot.
Can I use the app without paying for parking?
Yes, the app allows you to choose local retail destinations see real-time open parking spot count to know how difficult parking may be before you arrive. If you get an open spot not being traded by others, you will be able to earn a retail benefit for offering it.
What do I need to do to be able to participate in trading of CYCLE parking spaces?
Follow the steps on "Becoming a User" page to use CYCLE to trade parking spaces.
What is the Vehicle ID? How is it used?
You upload a vehicle ID to be sent to your trade partner when you're confirmed. It will be temporarily displayed in your trade partner's app to identify you, as is yours to them.
Can I add more than one Vehicle ID?
Yes, you can upload multiple vehicles to your profile and select the one you will be using in your arrival trade request.
Does the app charge me when I provide a payment method?
No, you aren't charged when you upload a payment method -- and uploading a payment method doesn't necessarily mean you'll EVER be charged. It just allows for payment to be made without an added step during your retail outing.
Read more about the payment process of CYCLE below.
Can the vehicle ID / payment methods be deleted from the app?
Yes - in the profile page, slide your card or vehicle tile to the left and a red button will appear to let you remove that card or vehicle.
CYCLE Lots
What is a CYCLE Lot?
CYCLE Lots are small lots of 10-30 FREE parking spaces nearest to CYCLE's retail partners. They are marked with a sign with the CYCLE logo, green wheelstops and numbers on each spot.
Each Lot is assigned one or more local retail businesses which allow CYCLE users parked in the lots to earn purchase credit with the retailer they choose to patronize when completing trades that the monitors & confirms.
Why are CYCLE Lots equipped with sensors & wireless technology?
Each parking spot in a CYCLE Lot is embedded with sensors to detect the presence of a vehicle and determine whether that vehicle is a CYCLE user or not by connecting wirelessly to our servers. If it is, that CYCLE user's ID will send them a notification to their phone to allow them to offer their spot on exit.
Our technology allows for real-time detection of unique users in each of CYCLE's equipped spots, which makes it possible to confirm the completion of timely trades which users set up in advance.
How does a CYCLE Lot know if a user parked there?
A user is detected using bluetooth connection to a small tag placed on a user's car. The tag contains a unique ID used to identify the user.
Where are CYCLE Lots?
These Lots consist of the best & closest possible parking access to our retail partners.
How will I know which CYCLE lot is closest to where I want to go?
Using CYCLE is simple, because you never have to think about how close or far away a CYCLE spot is from your destination. All CYCLE Lots are required to be within a comfortable walking distance from the retail destinations assigned to them.
All that users need to do is select their destination from the CYCLE App, choose a time of arrival, and their request will be queued in a nearby CYCLE Lot.
Are CYCLE Lots reserved only for CYCLE users?
No. Anyone can park in a CYCLE Lot. The easy promo code credit organically drives exit offers (moreso at peak times) that cause users (and customers) to acquire spots & make offers. Access is created when parking difficulty is anticipated and requests for parking are then made.
How do CYCLE spot sensors work?
Sensors built into CYCLE’s wheelstops detect the presence of vehicles to broadcast parking occupancy in real-time. And identify registered users to confirm completion of trades.
What do the flashing lights in my CYCLE spot mean?
If users don’t want to look at their phones to make sure they’ve completed a trade, the LED lights on the driver’s side of a wheelstop will indicate a completed trade. They show when a user is recognized and often blink to let drivers know they are empty.
What does a CYCLE Wheelstop do?
CYCLE’s wheelstop connect wirelessly to the internet & confirm scheduled trade completions, non-completions and other information for those planning to park soon.
Why are CYCLE Lots so small?
CYCLE Lots are limited to 20-30 spots for the following reasons:
1. To make locating a spot easier & quicker for incoming parking customers (finding & getting to 1/10 is easier then 1/50)
2. To guarantee a high quality of walking access to your chosen retail, based on the Lot placement.
How do I know I won’t get lucky and find a free spot without using CYCLE for parking?
You can’t always be lucky. Half of the anxiety caused by parking is the not knowing what to expect: how long it may take to circle before you park, how far you’ll have to walk once you park, how much you may have to pay if you run out of options. Cycle offers certainty that the location & access of the spot will be given to you when you arrive, and even a chance to make the cost zero if you redeem a promo code.
But if you ARE lucky, we hope it is in a CYCLE spot because no other parking spot will pay you $5-$15 when you leave it.
Parking with CYCLE
How soon before arrival / exit can I request parking / offer exit trade?
A request or offer must be made at least 20 minutes in advance or more. But because trading partners with most advanced requests are prioritized, CYCLE recommends as early a request as you can.
How much in advance can I request parking / offer exit trade?
3 hours in advance is the earliest a request / offer can be made.
What does it mean if my request “expires”?
It means there were no available matched of either arrival or exit times in the closest CYCLE Lot to your destination.
How Much does Make a Trade cost?
The cost of parking with CYCLE is between $5-$15 dollars, depending on if the request is during peak or non-peak hours of parking at that CYCLE Lot location.
Where can I find the price of parking at my selected arrival time?
In the CYCLE app, choose your retail destination and select an arrival time and a designated price will display for that time. Every arrival time has its own price.
If CYCLE is low- or no cost parking, why am I being charged $12! What gives?
You are charged for your arrival trade, but the promo code redeemed with your purchase can equal or many times exceed the cost, making your cost very low, non or even negative!
Why is the price different when I choose different parking times at my destination?
Pricing is based on the parking demand patterns of a location at the time chosen. If a spot is easily gotten during a low demand time, when open spots are common, the price for a trade should be next to nothing. The pricing also allows users who trade into a spot at a low cost – say $5 – to earn back a value on their exit at a high demand time, say $15.
This pricing structure is what organically generated more available parking when the most customers need parking.
How do I pay for parking? When does CYCLE charge my card?
The payment method uploaded before your parking request is charged by Stripe, our integrated payment partner, after you leave your parking location.
All you have to do is request, park & then exit your spot and the payment will be made!
How will I know where my spot is? How will I find it?
While driving, it is far too tedious, cumbersome & even dangerous to look for a single drop pin on a map to find a parking spot. CYCLE is set up to make driving safe and finding your designated spot quick.
The steps are simple:
1) click directions button in CYCLE’s app to generate directions to your selected destination,
2) look for the green wheelstops & a prominent sign with the CYCLE logo marking the lot where your trade is,
3) look for your spot number (provided in the App) as you pull into the lot
What if traffic keeps me from getting to my trade on time?
CYCLE's location & drive-time algorithm continuously reads traffic in real-time to ensure that requested arrival times are possible from a user's current location to their destination.
If an unexpected traffic build-up occurs which makes a user's arrival time impossible, the request is cancelled and user is prompted to re-request a later time. Also, a user can always cancel a request prior to confirmation of trade 15 minutes before trade time.
How do I know if my arrival time is possible? What if I underestimate the distance?
With location services enabled, you will only see arrival times that are drive-able in distance to the selected destination from your present location. If you’re driving and the drive time begins to exceed your requested arrival time, your request will be cancelled at no cost and you’ll be notified.
How do I cancel my request?
On the status page there is a panel displaying the time you requested. Slide that panel to the left and a “cancel” button will appear. Click the button to cancel at no cost.
Offering a CYCLE Spot
How do I offer the CYCLE spot I'm already parked in?
If you're a registered user with uploaded vehicle, you will receive a push notification on your phone to let you know you're detected in that lot as soon as you park. Menu in the app will allow you to choose your exit time and see the retail credit you will earn on your purchase locally.
Can I register as a CYCLE user and offer my spot after I park in a CYCLE Lot?
Absolutely. Once you complete the steps to registering & uploading account information, you'll be instantly recognized in the lot and allowed to offer spot for retail purchase credit.
Do I pay for how much time I'm parked in a CYCLE Lot? Is there a time limit?
No time limit on parking in CYCLE Lots (unless otherwise designated by property.) You do not pay anything for parking in a CYCLE Lot, only for another user's help acquiring a parking spot.
How often can I earn a promo code in a CYCLE Lot?
After a completed exit trade & promo code is earned, a user has to wait 6 hours before they can earn a promo again in the same CYCLE Lot.
How do I know how much promo credit is offered for my selected time?
When you park in a CYCLE Lot, the CYCLE app will display a dollar value next to the time selector in the exit menu. For any offer time you select, the promo dollar value will display next to it.
Why is the promo credit amount different when I select different times?
The offered credit is greater for higher parking demand times. This is because arriving parkers are less likely to pay for parking if it is more likely to find it for free. So the soft demand times have a low cost. But when available parking is scarce or a distance away, the required effort is greater, so the demand is more urgent for those who need parking.
What does it mean if my exit offer “expires”?
It means there was arrival request to that location matching your offer time range. If an exiting user’s trade offer expires, they may exit their spot at any time they choose or re-request an exit for a later time.
When should I submit my exit offer?
You can do this any time after you park, or not at all. It is up to you. You may want to request as soon as you arrive to the CYCLE spot if you know exactly when you will leave, OR if you don’t have a schedule, you can wait until 20 minute before you leave to make offer (though earlier requests have a better chance of being matched.)
How do I get a CYCLE spot? Do I have to trade to park in one?
No, you don’t have to trade to park in a CYCLE spot, they are free and open to the public. But like any parking lot in a busy area at a busy time, they will be hard to find open.
We encourage our users to park open parking spots at less busy times so that more parking will be available for users when there aren’t open spots.
Can I just take cash instead of promo credit when I trade my spot?
Unfortunately, no. All of the benefit earned from a completed trade offer is applied to the local retail partner of your choice.
Why is my confirmed trade time different than the time I offered for exit?
Each user who offers their spot using CYCLE will see a “+/- 10 mins” next to their time. This means that your offer time matches within a 10 minute radius of arrival requests. For instance, if you offer 10:20pm exit time, possible trade times include 10:10pm, 10:15pm, 10:20pm, 10:25pm, 10:30pm.
The reason for this is that arriving users are less flexible on their time of arrival if they are driving, and also because they are paying and exiting users are earning.
Do I have to trade out my spot? Can I just leave my spot?
You do not have to offer your spot, you are free to leave just like any other spot. But it cost the user less to park when they offer, whether that offer is matched or not, so you might as well!
How do I cancel my offer?
On the status page there is a panel displaying the time you offered. If the trade isn’t yet confirmed, you can slide that panel to the left and a “cancel” button will appear. Click the button to cancel at no cost.
Using CYCLE Retail Purchase Credit
What is a retail purchase credit?
It is an amount of money you can apply to a purchase you are making at your selected local retail store where a CYCLE Lot is located and partnered. Its value is based on the historical local demand for parking at the specific time you offer the spot, and only redeemable at selected retail. It is intended to be redeemed on purchase made before you complete exit trade.
How do I redeem the purchase credit?
A promo code will be sent to your app after you have been confirmed for an upcoming trade with another user. It will be a series of numbers and/or letters (ex: 1029-3304-21910-03944) which you will provide to the store at purchase, just as you would a gift card. It will disappear after the trade window is over.
How much are purchase credits worth?
Between $5-$15, sometimes more. The promo code value is based on the time a user offers a CYCLE spot they are parked in for an exit trade. The higher demand for parking is, the higher the value of the earned promo is on purchase.
Your promo value will appear next to the time you select in the exit menu.
What happens if I use the purchase credit but don't complete trade after?
CYCLE Lots are equipped with sensors which confirm completed trade (or lapsed trades) and determine if one or both weren't ready for the trade during the trade window {link this}.
If you weren't ready or didn't offer the spot to your partner, the value of the purchase credit you redeemed will be charged to your provided payment method.
Do I have to use the retail purchase credit before my exit? Can I keep it for later?
You can keep and use it later, but the convenience of immediate benefit to a current purchase is the most preferable option.
Help! I can't see the entire promo code on my screen!
Turn your phone sideways and the entire promo code will appear.
Completing A Trade
Do I need to contact my trade partner to coordinate the trade?
Short answer: You don't.
CYCLE trade partners do not know each other’s names or communicate until they see each other & wave in the parking lot. All CYCLE users know about trade partners is what their vehicle looks like to follow CYCLE’s timed trading format for completing a trade.
If a trade partner is ready for a scheduled trade during the designated trade window, they will not be penalized if their partner doesn’t follow through.
What do the “pending,” ”matched” & “awarded” statuses mean during my trade request / offer?
"Pending" appears in app's status if you have requested a time but not been paired with a counterpart trade partner for that time. If paired with a counterpart for a trade time 15 minutes or more before your selected time, the app status will show "matched" in status - these are unconfirmed and can be cancelled. At 15 minutes before, "matched" statuses become confirmed as "awarded" in app, which cannot be cancelled.
Why can't I cancel an "awarded" request?
Requests are "awarded" at 15 minutes before your requested trade time. Where before this status, requests are flexible as plans change or the timing changes, so users can cancel request at no cost. This is to make sure both trade partners are committed and capable of cooperation in the trade in advance, and can plan on its availability.
How long do I have to complete a parking trade? What is a trade window?
You have 10 minutes to find trade partner & spot & be ready to trade. This 10 minutes is the “trade window” lasting from 5 minutes before your trade time to 5 minutes after. This it to create flexibility for trade to be completed.
When the wireless spot sensors in the assigned trade spot detects the arriving user vehicle has parked in the spot during the trade time, app will recognize the trade as complete.
What if there aren’t any available matches for my trade time?
If no matches are available for your requested trade time, your trade will expire 15 minutes before selected time. You will not be charged for an expired trade request and can re-request a later time.
Alternatively, if your status shows no matches before expiration, you may cancel request & return to the request menu to look for better times which may show green pending offers in the request menu.
How will I know who my trade partner is?
When trade is confirmed & awarded, each trade partner will receive a trade ID for your partner which includes:
· Picture of front & rear of vehicle
· Make & model
· License plate #
· Spot # (if user is arriving)
What if another car is in my way trying to park in my trade partner’s spot ahead of me?
We have studied this as a potential barrier to timely completion. We have found that 95% of drivers will not wait for a parking spot for more than 90 seconds before they move on – especially if other cars are waiting for them to move.
In a lot of only 10-30 spots, this would enable 90% of the incoming users to park during the trade window.
Can I cancel my offer / request if my plans change?
Yes, as long as it is at least 20 minutes in advance of your requested / offered trade time.
CYCLE's Real-Time Payment Process
Why do I have to provide a payment method BEFORE I even park?
CYCLE's parking payment system is designed to create a stake in a successful trade for both trade partners. Also, with a provided payment method, payment isn't another cumbersome step in the parking process. It happens automatically based on you and your vehicles, movement based on location data and local sensors informing the system of your trade completion.
Why does CYCLE use a payment algorithm? Why not just charge like other parking apps do?
CYCLE's payment process is designed for convenience of the users, as well as an incentive to complete confirmed trades on time between users. CYCLE's system collects local data from parking sensors and uses location data to verify completion/incompletion of trades during trade windows, which triggers payment actions.
Regular payment action can be an additional step in an already cumbersome parking process. CYCLE's parking system is built for simple, easy cooperation to generate better parking access and experience, and lower a single users cost of parking. For that cooperation, users must be invested in the result of their trades.
What does CYCLE charge me for?
CYCLE charges users for efforts of user providing them with a spot they are leaving in a designated CYCLE Lot near to incoming user's destination. The payment goes toward a retail purchase credit earned the user providing the spot, minus a $2 service fee.
Why is my card not charged until after I leave the parking spot?
Because when you offer a CYCLE spot you are parked in, which you got by previous CYCLE trade, and it expires without a match (15 mins before), you aren't charged your arrival fee. Also, if your trade partner faults on the trade that you were ready for, your arrival fee is discounted.
If you decide not to offer spot after a completed arrival trade, you will simply be charged the arrival fee.
Do I get charged for cancelling a request/offer?
No.
Why does CYCLE use this payment algorithm, instead of traditional parking payment?
This algorithm is designed to do two things: 1) provide user incentives which create as much parking access for CYCLE users when and where it is needed most, and 2) allow users to rely on the format, not any single user, for consistent parking access.
CYCLE Retail Partnerships
What do Retail partners pay to have a CYCLE Lot put near store?
Retail partners pay no fee, CYCLE only collect $2 fee from each completed trade between users.
What qualifies a retail business for a CYCLE Lot?
There is a threshold of parking demand with low supply resulting from a combination of retail property conditions: limited supply of free parking, popularity or specific event on days or weeks. This results in a spectrum of probably parking difficulty. If parking is nearly always a little hard to find or take a little time but not much, a retail property may not be helped by installing a CYCLE Lot. But once this threshold is reached, even perpetually, CYCLE Lot may be the only thing which can create access.
What kind of retail properties benefit from CYCLE?
Retail properties best qualified for a CYCLE Lot are:
· Experiencing perpetual parking limitations
· Customers complain about cost or difficulty of parking
Does CYCLE pay their retail partners OR do retailers pay CYCLE?
Retail partners are true partners of CYCLE never pay CYCLE any money. CYCLE pays retail partners for each promo code redeemed by customers parked in CYCLE lot.
How can CYCLE increase the efficiency of available customer parking for partners?
Simply put, CYCLE Lots provide incentives only to retail customers to park in available CYCLE parking spots. Incentives for trading spots are only redeemed through partners. Over the course of hours of business, occupancy & turnover in CYCLE Lots result in a greater & verifiable customer occupancy.
What sort of data or results does CYCLE provide retail partners?
CYCLE can provide retail businesses with a customer occupancy rate & a day’s worth of money paid to retailer from each parking spot in a CYCLE Lot.
How does a retail business become a partner with CYCLE?
Because CYCLE isn’t designed to serve a parking market, but a retail business by way of parking. A partnership is an endeavor of mutual interest, where a client relationship is often a simple exchange of goods and services.
CYCLE's Business Model
How does CYCLE make money?
CYCLE makes $2 on every completed trade.
For example, if a trade is completed, a user might pay $10 for getting parking and exiting user would earn $8 for promo code (through CYCLE’s payment to retail partner for promo code.) CYCLE keeps the remaining $2.
How does CYCLE’s pricing work?
Every 5 minutes of a particular CYCLE Lot is priced for a parking cost & promo code credit which is $2 less based on an average day’s parking demand pattern. If parking cost paid by arriving user is $10, promo credit earned by parked user offering is $8. These prices change in order to generate an incentive that is highest when parking is the most difficult.
This is designed to create more parking access at most important times, and allow customers & retailers to be the primary beneficiary of organic price increases during hours of business.
Is every CYCLE Lot priced the same or different?
Every piece of parking property is unique, and is measured & priced uniquely. So they are all different.
Who pays for the purchase credits redeemed in CYCLE partner's stores?
Technically, CYCLE pays the retail partners for each redeemed promo code. But CYCLE’s pricing model essentially allows each redeemed promo code to be reimbursed by the arriving user who receives parking spot offered.
Does CYCLE get all of the money my customers pay for parking?
All but $2 of your payment for parking goes to re-imburse our retail partner for your trade partner’s promo code. Sounds complicated, but essentially you are paying your trade partner, minus CYCLE’s standard $2 fee.
Privacy
How does CYCLE use my location info?
Location data is used by CYCLE to auto-cancel arrival requests you have made when they become impossible for you to complete based on the live drive time. Also, it is used to verify that you are ready for a confirmed trade at your assigned lot.
How does CYCLE use my vehicle information?
Users’ vehicle information is used only for trades.
Is my name or email shown in the app as I request/offer spots?
CYCLE users are completely anonymous. No personal information is shared between users in the app, with the exception of vehicle information to complete trades of parking spots.