PHILADELPHIA (CBS) – Several Drexel University engineering graduates have created a system that works as an EZ Pass for parking.

According to the Drexel University website, Dakota Davis, Jonathan Davis, Diego Pinate and Niteesh Prasad have developed an on-street parking management system that helps drivers find available parking spaces and how much the spot costs.

“We eliminate the frustration from parking,” said Jonathan Davis, chief executive officer of Hot Spot Parking. “The human element is removed from both the driver and city aspect and we can offset CO2, save time and money for everyone involved.”

Drexel’s College of Engineering says the team created a system where a transponder (which is similar to an EZ Pass), located on a vehicle’s windshield, communicates with a commercial grade system that is planted within sidewalks of city streets. This process ensures that there is no obstruction.

The website says a credit card is connected to the transponder and drivers are charged when they leave the parking space.

The Hot Spot Parking team created the prototype for this product during their senior design project at Drexel University. The team says they plan on implementing their system across the county.

Top Content On CBSPhilly

Watch & Listen LIVE