New York Citys Department of Finance is exploring the option of a mobile payment system that would enable residents to pay for traffic camera and parking violations via their smartphone.

The system would aim to give drivers the ability to use everything from debit and credit cards to PayPal, Apple Pay and even Bitcoin to pay for fines due to traffic light, parking and speeding violations.

The Department of Finance hopes the move would accelerate the process of collecting parking tickets, 8-10m of which are issued by the NYPD and traffic enforcement agents every year, bringing in approximately $600m (£395m) annually.

So far, the Department of Finance (DoF) has only requested information from various companies to gain an understanding of the current market and environment for mobile payments. Any system developed would also have to allow those issued tickets to request a hearing and submit evidence.

“The City currently offers both the payment and adjudication of parking tickets online, via mail or in-person,” wrote DoF representatives in the official Request for Information. “Although there are currently multiple channels through which individuals may pay or dispute their parking tickets, DoF is interested in learning about mobile solutions that would allow for the payment and adjudication of parking tickets via a smartphone or other mobile device.”

Earlier this year, New York City officials announced that free public wi-fi access points were to be set up around the city, and this month the city revealed plans to rent wi-fi hotspots to city residents who lack internet access. The Request for Information also cited “recent developments in contemporary payment technologies” as a driver behind the move, suggesting solutions like Apple Pay and Google Wallet may have inspired its interest.