You'll be charged the hourly rate until you reach the day rate of the car park. At this point, your payment will be capped at the day rate of the car park until 24 hours have passed.
For example, if the day rate of a car park is £15 and the hourly rate is £3.00, if you park for more than 5 hours, the app will cap your payment at £15 until 24 hours have passed.