Cashless ‘wave and pay’ parking in central London

Those hiring a car in London will be able to pay for their car parking by waving their credit or debit card at a meter.

The new technology called ‘wave and pay’ means that motorists will never need to carry cash when they are parking their car.  The system works with contactless credit cards which can be swiped across a magnetic reader which will be fitted on 20 machines in the West End early next year.

If the trial is successful, the magnetic readers will be fitted to other meters throughout Westminster, and Southampton is also planning to implement similar technology with other councils anticipated to follow.

The move is being prompted by the growing use of smartcards in the UK to pay for cheap items such as newspapers, coffee and bus fares.

It is estimated that there are nearly four million smart cards in use, which unlike conventional cards, require chip and pin verification or the signature of the cardholder, apart from when a routine security check is carried out.

It is hoped that all new credit cards and debits cards will contain this technology, which would make it possible for them to be used as ‘smartcards’ on public transport throughout the country as well as for the parking areas which follow Westminster’s lead.

Earlier this year, the Department for Transport announced a consultation into the use of smartcards to pay for bus and train journeys, in which the overhaul could see the end of traditional paper train tickets after 173 years.