Contactless Payment Technology for London’s Black Cabs

Contactless payments will eventually be rolled out in the City of London, allowing all 25,000 London Black Cab drivers to have the innovative payment solution. Payment solutions provider, Ingenico, has announced the plans in partnership with Visa Europe, to increase and encourage card usage in London’s black cabs. They hope to enhance the consumer experience as the new technology will provide customers with more payment choices.

Business people, tourists, commuters and late night party goers in London will be welcoming the news of the convenient contactless payment system, which could mean cheaper cab fares for them as they may not have to stop off at the nearest cash point anymore.

Because of the increased cost of taxi insurance and the general running of vehicles, cab drivers may welcome this new technology even more, as they will be able to generate additional revenue. Ingenico’s solution also allows for the delivery of additional value added services for consumers such as mobile phone top up.

For those people whose card provider has not yet enabled the facility for contactless card payments, they will still be able to pay by chip & pin or using the card’s magstripe.

Cillian Wright, Head of Global Partnerships in Ingenico, said “The consumer experience of contactless payments in London will be enhanced, as providing this technology for Visa Europe’s initiative has allowed Ingenico to deliver a leading taxi payment solution”.

The technology for taxis is growing and becoming more innovative. Recently, VeriFone has revealed its plans to roll out its near field communication strategies for payments to some taxis. Vodafone has also recently announced that they will be allowing their customers to pay for taxi journeys by text message.

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