New York City taxis have begun installing equipment allowing passengers to use credit cards to pay their fares, and the technology might be available throughout the city's entire cab fleet within a few months.
The New York City Taxi & Limousine Commission has mandated that the city's 13,000 yellow cabs be outfitted with technology providing a credit card payment option and an interactive passenger map by their first scheduled inspection after Oct. 1. In late May, VeriFone Transportation Systems announced that its systems were the first to be approved for a full-scale rollout for the upgrade.
In addition to the credit card technology and onboard global positioning systems—which will allow business travelers to use their corporate cards for cab rides, a spending category that usually requires out-of-pocket cash and was the most abused travel expense item, according to a recent fraud study conducted by KDS
(BTNonline, June 26)—the VeriFone technology also includes touch-screen monitors that provide local news, weather, sports updates and restaurant and nightlife information. Eventual upgrades also will include traffic and event information.
Amos Tamam, president and CEO of VeriFone Transportation Systems, said the technology should be available fleetwide in a few months, although the complete rollout could take until February. Similar technology already is functioning in cabs in Philadelphia, following a similar rollout, he said.
"This program was completed back in March," Tamam said. "As the public is becoming more and more aware of it, we're seeing a steady increase in transaction volume every month."
VeriFone also is beta-testing the technology in cabs in Las Vegas and Chicago, although there are no fleetwide mandates in those cities, Tamam said. He expects the technology soon to spread to other cities across the country.