Paying for Taxi Journeys with Paper and Coins could be a Thing of the Past

Paying by paper and coins could be a thing of the past as technology becomes more innovative. You might not have to worry about…

Paying by paper and coins could be a thing of the past as technology becomes more innovative. You might not have to worry about getting a cab driver to find and stop at a cash point again as the electronic payment company and digital media operator VeriFone is tapping into the growing technology of near field technology and targeting London’s black cabs.

VeriFone is offering the system free to London’s licensed black cabs to improve passenger journeys and modernise the payments infrastructures in taxis. The system allows taxi drivers to easily accept credit and debit cards as it integrates with the taxi meters while also streaming digital content and advertising to passengers.

The VeriFone system provides a new, highly targeted channel for advertisers with the ability to deliver real time media. As well as a colour display screen for streaming media, advertisements and safety information, VeriFone’s unique card payment system also comprises of a fixed passenger facing secure PIN entry device and a driver side payment device with a receipt printer. The system has already been rolled out in some black cabs around London as the equipment, installation and maintenance are all free but drivers will still need to make sure that their taxi insurance covers the new technology that will be installed in their cabs.

VeriFone’s vice president & general manager, Northern Europe, Middle East and Africa, Shaun Burger Explains that “This is a total media and payment solution that enables black cab operators to enhance the customer experience with card payment options and access to a choice of multimedia content during their trips.

“VeriFone can also deliver interactive and dynamic cab-based media campaigns to advertisers looking for targeted, high-value alternatives to traditional venue-based and outdoor media channels.”
VeriFone has already installed their systems all around the world, from South Africa to Istanbul and New York City. In NYC, VeriFone’s taxi payment system is now deployed in 50% of taxis and VeriFone Media Solutions provide content to more than 90%.

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