Ripples Partner MoneyNetint offers travel payment service

Tuesday 19 March 2019 00:53 CET | News

UK-based electronic money institution MoneyNetint has launched PayTicket, a payment service for foreign motorists who receive tickets while traveling.

MoneyNetint’s new payment service is meant for travelers who receive traffic tickets in Europe. In most EU countries, the speeding or parking fines are payed through local channels, and this includes tourists who cannot pay online with a foreign credit card.

As 120 million vehicles are rented out each year, triggering a massive rise in traffic tickets, Google reports there have been 322,000 searches per month about ‘online fines payment solutions’. In 2017, eight million traffic reports went to foreigners in the Netherlands. Until recently, the only payment solutions available were cross-border bank transfers or money wires. However, paying the fines through money wires or bank transfers is slow and expensive, as often they are more expensive than the tickets themselves.

PayTicket provides an easy-to-use platform that allows motorists to pay international driving fines securely with their credit or debit card. Since the period between getting fined and having to pay varies from country to country, PayTicket tries to eliminate the payment barriers.

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Keywords: MoneyNetint, Ripple, launch, traveling, UK, payments , electronic money, online fines, payment solutions, cross border, banks, transfers, credit card, online payment, fines, debit card
Countries: World