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Wave and Park

. Banking & Finance.

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banking and financeWestminster City Council is to trial ‘wave and pay’ parking meters in 2010.  Motorists can then use contactless credit or debit cards to pay for parking in central London.

The trial run of the new meters will be at 20 locations and if it is a success it will be rolled out across Westminster.

The council removed all its old-style coin meters in March due to repeated vandalism. Some replacements  incorporate Chip and PIN readers, but most require users to set up an account and pay by mobile phone.

It will be the first test of contactless payments at parking meters in the UK, and will be watched with interest by other Local Authorities as they seek to maximise revenues while reducing costs.

The cost savings which flow will be both operational as well as the obvious reduction in cash handling costs.

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