NYC Wants Drivers to Pay For Parking Tickets Via Apple Pay, Mobile Apps and Bitcoin Officials believe a revamped system would ultimately cut down on the losses the city incurs each year from unpaid violations.
By Geoff Weiss •
Opinions expressed by Entrepreneur contributors are their own.
New York City is weighing new legislation that would enable drivers to instantaneously pay for parking tickets via Apple Pay, mobile apps and even Bitcoin.
The city collects roughly $600 million from 10 million parking tickets annually, according to MarketWatch. However, the current payment system is rather outdated: offenders can only pay online, through the mail or in person at the courthouse. And if they don't pay on time, late fees begin to accrue. This, along with a 2.5 percent credit and debit card fee, could change with the use of mobile apps and cryptocurrencies.
While no mobile options are currently available, the city also believes a revamped system would ultimately cut down on the losses it incurs each year from unpaid violations.
New York City's finance department is reportedly envisioning an "aesthetically pleasing" mobile interface by which drivers could either take a picture of their tickets or scan barcodes to make one-click payments, MarketWatch reports.
While no solid plans are in place, the city issued a Request for Information about such a system due on Jan. 15. This will help the city understand "the current market environment for mobile payment options" and whether this is a feasible solution for parking tickets.
Related: Microsoft Is Now the Largest Company in the World to Accept Bitcoin
