What is meant by "current time"? The time zone that you're parking in?
Not exactly a very high-tech system ; )
It is just fiddly to input the fare zone on those cheap rubbery buttons and you do need to take it to a store occasionally to fill it up with credit. If you want to overstay you would need two of these devices, I don't know if they had any security to prevent that. I can't find any pictures so I guess smartphones and a central database have made them obsolete.
Then anyone walking by can see the time that you parked the car