New York City Considering Bitcoin as Payment Alternative for Parking Tickets

0
85

New York City Considering Bitcoin as Payment Alternative for Parking Tickets

ForexMinute.com – The New York City Department of Finance (DOF) recently considered Bitcoin as an alternative to pay for parking tickets.

In their recently released document related to parking operations and planning, the DOF discussed the potential of mobile payment solutions for payment and hearing scheduling of parking tickets. Other than Bitcoin, the document included Apple Pay, PayPal, credit cards and ACH transfers in its “considerable” payment solution category.

“The primary objective of this RFI [Request for Information] is to identify and assess mobile platforms that support the payment of parking tickets and learn about their current use and future viability,” mentioned the document. “A secondary objective is to identify existing mobile platforms that support the request for a hearing of parking tickets and learn about their current use and future viability.”

It meanwhile discussed a number of objectives that will be needed to implement mobile payment solutions with their existing systems. They include determining: the level of integration; ability to support the real-time payment or request for a hearing of “windshield” tickets; and potential costs that would add to the cost of the ticket.

From the first look of it, it seems that the parking authorities could simply put a QR code on every ticket that would enable instant redemption. This whole idea, if it comes to effect, can save the city a lot of time and money.

The DOF document comes at the time when New York-based Bitcoin followers are eyeing on the release of NYDFS BitLicense.

To contact the reporter of the story: Yashu Gola at Yashu@forexminute.com