Ripple partner MoneyNetInt is launching PayTicket, an easy-to-use payment service for foreign drivers who have to pay fines.
Increasingly more people decide to move around driving a vehicle when they are abroad, to the point that there are now 120 million vehicles rented each year.
This has also led to an increase in driving tickets: according to Google there are now 322,000 searches per month for the query “online payment solutions for fines”.
Foreigners who are not familiar with the driving regulations of the country in which they are driving often end up in restricted traffic areas or in bus lanes. It is also estimated that 5% of tourists are fined when driving abroad, and the payment of these fines through bank transfers is slow, expensive and inefficient.
This is why MoneyNetInt has launched a new payment service for travellers receiving fines in Europe. In most EU countries fines are paid through local channels, and this also applies to foreigners, who sometimes cannot pay online with a foreign credit card.
The only alternatives available are cross-border bank transfers or money transfers, but they are expensive and not very quick. PayTicket, on the other hand, will make it possible to make payments easily, quickly and inexpensively, with either a credit or debit card.
Throughout Europe, local authorities are using an application to fine both local and international drivers, so that most tickets are recorded electronically by linking them to the vehicle’s number plate, and the person issuing the ticket can also automatically collect the driver’s data from the rental company.
Once the driver receives the fine they usually have 60 days to pay or appeal, before the fine doubles. In the event of non-payment, the issuer usually tries to recover the money through a foreign debt collection agency.
Yishay Trif, CEO of MoneyNetint, said:
“In the past when you picked up a driving ticket in Europe, you probably didn’t know how to pay. Rules and regulations vary from country to country, so it hasn’t always been easy to pay for a ticket abroad. Fortunately, there’s now an online solution to this long-standing problem. PayTicket is a new service that helps travellers pay their driving fines in minutes. It’s fast, secure and easy-to-use”.
