Taxi booking and payments app goCatch is piloting pocket-sized card readers on smartphones or tablets used by drivers, which turns them into EFTPOS machines.
The trial lets goCatch take payments for roadside hailed rides not booked through their app, opening up a lucrative new revenue stream as it takes on the industry’s dominant player, Cabcharge, as disruption in the taxi payments system increases rapidly.
“Roughly half of all taxi jobs in Australia are hailed from the street or taxi rank, representing a big opportunity for goCatch to monetise payments for these journeys,” goCatch CEO Ned Moorfield said.
“Rolling out mobile payment terminals enables us to capture some of that revenue while at the same time providing our drivers with a superior payments solution in their taxis.”
The pilot program will run for one month in Sydney, with a broader rollout expected in the near future.
goCatch has signed up around half of Australia’s taxi drivers, who earn a commission from fares processed through the terminals. The drivers also receive “goPoints” as an incentive to use the terminals, which increase their driver status, enabling them the first opportunity to bid on more lucrative jobs.
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