ABSTRACT
In last several years, mobile parking payments have become a taboo. There is an ‘on the spot’ payment using the smartphone but it is not very user friendly. There are other payment systems such as cash, credit card, and advance payment. The parking company has to support all such options, raising the cost of their fee collections. The big question arises how do you reduce all these in favor of one option so that the overheads for collecting fees and fines are reduced? The blockchain payment system or web account (virtual currencies) may provide an answer if it is accepted by all industries including the banking system. The signs look promising. Can it reduce the processing fees to ‘zero’? Let us get a preview in this chapter.
