Abstract: A parking ticket dispenser of the type to dispense a parking ticket upon payment of a required fee is provided. The parking meter includes a substantially rectangular shaped housing mounted on a pole extending upwardly from the ground. A coin receptacle projects forwardly from the front wall of the housing and is operable to receive payment of the required fee in the form of coins. A credit card reader is also provided in the front wall for receiving payment of the required fee via a valid credit card. A microprocessor-based circuit is disposed within the housing and is in communication with the credit card reader. The circuit includes appropriate software for detecting whether a credit card received by the credit card reader is valid and for recording credit card transactions.