171102 EZ-ier PASS

pay toll.pngIt was a coup to have the entire Northeast quadrant of the U.S. use Mastercard/Visa based EZ PASS.  Imagine the windfall when every one of those states began to pay a percentage of their toll-road collections to processors.

Yet, the states do it gladly because consumers love the convenience, faster transaction times and less traffic.  The states love fewer employee salaries and benefits to payout and EZ PASS reduces the cost of collecting, counting and converting cash.

Note to self: Create a company which creates consumer-funded accounts which make payments in Bitcoin in an automated way, e.g., wherever payments must be made with a credit card, Bitcoin is used instead.  (Banks aren’t going to like that.)

In the New York-New Jersey region alone nearly one-third of all of the tolls in the United States are collected; some 4 billion dollars annually.  We are paying about $100 million a year in processing credit cards to pay those tolls.  Drivers could save that much money by using Bitcoin.