MasterCard, VeriFone Announce Tap & Go Payments In Taxis

The PayPass roll out is part of a PPA project contracted with VeriFone Transportation Systems, a joint venture of VeriFone and Taxitronic, Inc., to equip city taxis with systems providing sophisticated networked fleet management capabilities and consumer services including wireless credit and debit payment transactions, navigation, scheduling, trip logs, lost & found tracking, and panic button alerts.

VeriFone estimates that MasterCard PayPass cuts approximately 45 seconds off the transaction time in taxis when compared to cash, and 15 seconds when compared to swiping a traditional payment card. Payment card acceptance in cabs is growing throughout the U.S., and this project will ultimately ensure contactless and traditional card acceptance in all Philadelphia taxis.

“MasterCard PayPass contactless payments provide taxicab passengers with a simpler way to pay,” said T.J. Sharkey, Group Head, National Accounts, U.S. Commerce Development, MasterCard Worldwide. “PayPass is a perfect solution for passengers who are in a hurry and want to get in and out of taxis as quickly as possible without having to fumble for cash or coins, or wait for drivers to make change.”

To use PayPass in participating Philadelphia taxis, passengers simply tap their PayPass-enabled card or device on a contactless reader attached to a VeriFone Omni 7000 payment system located in the back seat of the taxi. The customer-facing payment system is networked to another VeriFone system, the MX870, a multimedia device located in the driver cab that provides routing, navigation and other information.

With no signature required for transactions under $25, PayPass offers taxicab passengers a fast and convenient alternative to cash and eliminates the need for consumers to search for cash or coins, or hand over their card to the driver. When using MasterCard PayPass on the VeriFone Omni 7000 system, passengers also have the option to enter the tip amount, as well as sign electronically for transactions over $25.

“The VeriFone Omni 7000 is the same device used in many retail stores and will be very familiar to consumers,” said Bill Atkinson, VeriFone executive vice president. “Philadelphia taxis with MasterCard PayPass contactless payments will provide passengers with a convenient and interactive riding experience unlike any other in the country.”