Credit Card Alternatives: Easier Ways to Pay

This article addresses four alternative means of payment for parking systems aside from credit cards. Credit cards, while merited with the convenience of avoiding sometimes unwieldy currency, can also build up charges for both vendors and customers if frequently used for small transactions due to fees. The first alternative method for the payment of parking fees listed is that of a micro-payment aggregator. This system collects such small fees as are typically found for the daily use of a parking lot and stores them in an account. On a monthly basis, that account is drained, thereby avoiding unnecessary costs to the vendor. The second technology listed is Pay by Cell (PbC), which allows customers with a pre-existing account to charge parking fees to that account via cellular telephone. Third is the use of an online payment broker, as this method is increasing in popularity with youth. The last item listed is that of smart cards and Radio Frequency Identification (RFID).