PURCHASE, N.Y. — MasterCard has cut a deal that will soon allow its Tap & Go contactless credit card program to be used in taxicabs licensed by the Philadelphia Parking Authority.
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, MasterCard explained.
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, the company said.
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To use PayPass in participating Philadelphia taxis, passengers simply tap their PayPass-enabled card or device on a contactless reader attached to a VeriFone payment system located in the back seat of the taxi. The customer-facing payment system is networked to a multimedia device located in the driver's 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, MasterCard added.
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