NYC Wants Drivers to Pay For Parking Tickets Via Apple Pay, Mobile Apps and Bitcoin

By GEOFF WEISS

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 However, the current payment system is rather outdated: offenders can only pay online, through the mail or in person at the courthouse.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.

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New York Is Ready With Revision of Bitcoin Regulations

New York regulators will issue a revised proposed draft of regulations for bitcoins,  Benjamin M. Lawsky, Superintendent of Financial Services, told the Bipartisan Policy Center in Washington this morning. 

Lawsky, who had explained the department’s process for developing virtual currency regulation at Money 20/20 in early November, said the revised draft would be posted on the department’s Web site soon, opening the way for a new round of comments.

At the Money 20/20 conference some bitcoin promoters said that if regulators demanded too much financial backing, bitcoin companies startups would find it difficult to launch a business.

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