Drivers in inner London will soon be able to wave a debit card or credit card at a parking meter to pay their fare.

In the wake of the UK government pursuing a course towards cashless transport payment across Britain the Westminster Council initiative will theoretically do away with the need for carrying cash for parking and even pin numbers not required as ‘wave any pay’ is released.

As of early 2010 there will be some 20 new magnetic readers installed on parking machines in London’s West End which will be activated once the user’s card is swiped across the sensors.

There are plans to roll out the new meters to the greater region of Westminster if the trials prove successful, with similar plans being introduced in Southampton. The move is likely to go national in the near future if proven to be working.

The initiative comes at a time when Britain is seeing an increasing use of smartcard technology to pay for public purchases, usually low-end everyday items such as newspapers, takeaways and bus fares. Some 4 million smartcards are presently in operation across the UK which does not require a pin number, signature or even an ID chip.

All new debit and credit cards are expected to have the technology installed in the future, which, after 173 years of operation could spell the end of the paper train ticket. The move has been designed to minimise waiting times and aggravations to the public.