Expense and booking technology company Concur today announced an investment in RideCharge, a firm that provides electronic booking and payment tools for taxis and chauffeured cars.
The investment, the amount of which was not disclosed, gives Concur a stake in RideCharge, expanding on a partnership first announced last year
(BTNonline, May 12, 2008). RideCharge's technology lets travelers book taxis and cars through their mobile devices, pay for the ride with the same mobile device and, via the integration with Concur, have the charges uploaded to Concur's expense tool. The service currently is available in 30 cities nationwide.
Expense managers have said taxi rides particularly are susceptible to fraud, as the transactions usually are paid in cash, and drivers often give travelers one or multiple blank receipts
(BTNonline, July 21, 2008).
"For most companies, managing the costs of ground transportation is literally the last mile of their travel management program," Concur chairman and CEO Steve Singh said in a statement. "This strategic investment strengthens the Concur Connect program and enables Concur and RideCharge to help our clients and their business travelers streamline and take control of yet another area of corporate travel spend."