It essentially allows motorists to pay for metered parking using a Smartphone, the internet, or by telephone.
"It really is everything you can think to make our life better," Mayor Bloomberg said.
No coins, cards, or receipts are needed here.
You simply download the "paybyphone" app and register your license plate and credit cards numbers.
Once you park, put in the location number posted on the nearest MuniMeter and punch in the amount of time you need to park.
You'll even get an email or text when time is expiring and be able to add more time remotely.
"I think it would be easy access for us to do it by phone because by the time you go from your car to one of the meters you can get a ticket, which I've received a few this week already," said Mike Hughes, a driver.
There's a second pilot program underway along Arthur Avenue: a real-time digital map that tells drivers where the available parking spaces are likely located.
Sensors embedded in the roadway help track the information which is sent to the map using a color coded system.
"Green indicates the greatest likelihood of a spot, yellow the chances aren't so good and red you get the idea, forget about it," said Commissioner Janette Sadik-Kahn, NYC Department of Transportation.
Business owners around there say they welcome anything that makes it easier to attract customers.
"We need all the help we can get. We're fighting big competitors like Costco, BJ's. They got free parking and I don't blame customers when they want to go somewhere and not have to worry about their car," said Anthony Angrisani, a store owner.
If both pilot programs have successful runs along Arthur Avenue, they'll likely be duplicated cross the city.