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VERIFONE UNVEILS NEW CARD PAYMENT SOLUTION FOR LONDON BLACK CABS

20/09/2010

Licensed Owner Drivers can Increase Revenues and Provide Enhanced Passenger Choice

VeriFone, a global leader in secure card payment solutions,announces VeriFone Taxi Systems (VTS) in the UK, equipping London’s licensed black cabs with new card payment capabilities. VeriFone’s unique and proprietary system, designed exclusively for black cabs, will allow drivers to offer secure and reliable credit, debit and contactless card payments for improved passenger convenience.

For licensed London black cab drivers, all VTS equipment, installation and maintenance are free. Card payments are processed quickly and securely allowing cab drivers to recover fares fast and more effectively manage their finances.

Mark Roberts, VP Sales VeriFone, comments “This is a revolution for London black cab drivers. Owner drivers will now be able to offer fast and efficient credit, debit and contactless card payments, which has a multitude of benefits for both driver and passenger. Typically, taxi drivers will see increased tips due to “rounding up”. More journeys can be made in a day, as there will be no need to stop at ATMs for passengers to pick up cash, and payment authorisation and payout to drivers will happen within three business days. Additionally, drivers will be carrying and handling less cash, which is a huge safety bonus.”

The VeriFone in-cab payment solution consists of a V x 810 PIN pad securely mounted passenger-side, integrated with a V x 510 for driver login and receipt printing. The hardware is coupled with VeriFone’s payment processing software, PAYware Merchant, which is used by many UK high street retailers. VeriFone’s payment solution also minimises the risk of fraud, by keeping cardholder data encrypted during transactions, enabling cab drivers to gain consumer trust by delivering highly secure passenger card payments. Finally, a Passenger Information Monitor (PIM) delivers video content and safety information directly to the passenger.

London has approximately 22,000 licensed black cabs and competition for passengers is fierce. Offering a wider choice of payment options to passengers will result in increased revenue for drivers and greater convenience for cab users. And the VeriFone payment system is designed just for black cabs, allowing them to differentiate themselves from minicab drivers.

Mark Roberts adds, “In the US there are more than 20,000 taxis using a VeriFone payment solution. It is a huge success and very popular with cab drivers – and we are pleased to now bring VeriFone payment technology to UK black cab drivers.  The London black cab community is renowned worldwide for providing excellent customer service. We want to help the best get even better by offering our revolutionary black cab payment solution for free to all licensed London black cab owners. We hope that every driver takes us up on our offer and installs the solution over the coming months.”

An in-cab pilot programme of the payment solution is scheduled to begin in the near future with the involvement of the LTPH office (London Taxi and Private Hire).

http://www.verifone.com/uk-taxi

See the Verifone advert in October’s Cab Trade News.

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