News
Visa Europe launches new contactless payment solution for
London’s black cabs
London, 8th December, 2010 - Paying for a black
cab will be quicker and easier thanks to a launch of new
contactless card payment systems by Visa Europe and the Mayor of
London.
Visa is carrying out a targeted launch,
supported by the Mayor and Transport for London (TfL), of a new
type of card terminal connected to taxi meters which means
customers can pay for a cab with a touch of a card for the first
time ever.
VeriFone will be providing a solution in 58
taxis starting from today whilst Ingenico, CabCard and CabVision
will be providing an alternate solution in 25 taxis later this
month. Visa Europe hopes to increase the number of taxis that
accept cards so they become a common sight in cabs.
The card payment terminals are built into
the back of the taxi and operated by the passenger rather than the
driver. Chip and PIN and magnetic stripe payment methods are
both supported by the terminals. For journeys under £15, passengers
will be able to pay by simply holding their contactless payment
card to the reader with payment being taken within one second. With
an average London black cab fare for a three mile journey standing
at approximately £12*, this payment option provides a very quick,
convenient and secure method of payment for passengers and taxi
drivers alike.
The decision to introduce the new terminals
follows research amongst London taxi users** which found that 65
per cent would prefer to use cards if they knew all taxis accepted
them. Many of the world’s major cities, including New York, Chicago
and Sydney, already accept card payments as standard and Visa
Europe hopes this initiative will put London on a path to full
acceptance.
Visa Europe is branding taxis participating
in the project to allow Londoners to recognise those taking part.
Once live, the solution will be available to all of London’s 22,000
licensed taxis to sign up to.
Mariano Dima, Chief Marketing Officer at
Visa Europe, said: “We want Londoners and tourists visiting the
capital to no longer be restricted by the cash they carry in their
pockets. As we start to transition to card payments in taxis, there
will be knock-on benefits to leisure and business passengers. We
want to promote this attractiveness to consumers and build upon
London’s reputation as one of the world’s great cities.
“Offering this new and innovative payment
option in the taxi environment promotes convenience, faster payment
times and security to both the passenger and driver.”
Kulveer Ranger, the Mayor's transport
advisor, said: "It's fantastic to see our iconic black cabs leading
the way with the latest in 21st century technology. More and more
passengers are keen to pay for taxi journeys by card, and this
makes the whole experience more efficient. I am delighted that
London's taxis are leading the way with this new type of technology
making taxi payment less taxing and allowing passengers to relax
and enjoy the banter with our world-famous London cabbies."
John Mason, TfL’s Director of London Taxi
and Private Hire, said: “TfL is pleased to be able to support
Visa Europe’s initiative, aimed at introducing contactless payment
to London’s taxis and expanding the availability of debit and
credit card acceptance in taxis. Year after year, London’s taxi
service is rightly voted the best in the world*** and any
initiative that further provides alternative payment options for
passengers is welcomed. We wish Visa Europe every success with this
scheme and will be looking at the results of this targeted launch
with interest.”
This launch is being conducted in
partnership with CabCard Services, CabVision, HSBC Merchant
Services, Ingenico, RBS WorldPay TfL, Ubiquitous Taxi
Advertising, and VeriFone.
* - Taxi and PHV Driver Diary surveys, GfK
NOP, 2010
** - Research by Cabvision based on 31,628
responses
*** - Research conducted by http://www.hotels.com/ based on
responses from European travellers in May 2010