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Mobile payments available in NYC taxis

Lucy | August 20, 2013

This new form of transaction comes as a result of the use of the Way2ride app from VeriFone.

VeriFone, one of the two organizations through which New York City taxis process credit card transactions to pay for rider fares (the other being Creative Media Technologies), has just launched a mobile payments app that will allow passengers to use their smartphones instead of a plastic card.

The application is free and will be available for use on both Android and iOS based smartphones.

The VeriFone mobile payments app is called Way2ride. It is designed to allow smartphone users to use their smartphone instead of a credit card, after having registered their card data in their phone. This is unique from the other mobile commerce projects that are currently being tested by the taxis in New York City because the three e-hail apps in those pilot projects are for calling cabs and not paying for them.

This makes the Way2ride app completely unique in its mobile payments features for the city.

NYC Taxi and mobile payments The implementation of the Way2ride mobile payments app and system in New York City is meant to be only the start of a worldwide rollout for VeriFone. It said that it intends to offer the service in all of its network of 70,000 enabled cabs around the globe.

Mobile payments and apps are becoming an increasingly important and mainstream part of taxi service. Just recently, new legislation was released in Washington D.C. that gave the district’s area taxi companies the chance to add smartphones to their lists of acceptable forms of transactions. This has lead to a number of partnerships in that area, in order to make it possible for cabbies to take advantage of this new law.

Among them, some of the most notable new mobile payments partnerships in D.C. were airsMobile and USA Cabs. They created the TaxiRadar app, which allows the customer to hail a cab and, through the use of a smart meter (which complies with the latest taxi commission regulations in the district), can complete the transaction and pay for their fare at the end of the ride, as well.

Mobile payments solution to bring Paydiant and Pulse together

JT | August 6, 2013

The two companies will be working together to be able to offer a purchasing service to its customers.

Pulse, a debit/ATM network, has now announced that it will be working with Paydiant, which is a cloud based mobile wallet provider that also offers redemption platforms, in order to be able to offer participants a mobile payments and commerce solution.

The Paydiant solution makes it possible for Pulse partners to rapidly deploy contactless transactions.

These partners include both merchants and financial institutions. Pulse is hoping that the new partnership will make it possible for those partners to rapidly and easily take on contactless mobile payments as well as cash access functionalities in order to appeal to consumers who are using their smartphones on a rapidly growing basis for a large number of their day to day activities.

The capabilities of these two companies could potentially produce a very powerful mobile payments solution.

The mobile payments wallet platform at Paydiant is software based and functions in both existing and the latest smartphones, which include both Android and iOS devices, in addition to with existing point of sale terminals that are already being used by merchants who are participating in the program. This means that there will not be any new hardware required, according to the Pulse news release.

Paydiant has explained that its new mobile payments solution provides two new capabilities that could make it possible to accelerate the use and the adoption of digital wallets via smartphones, while improving the efficiency of the transaction process and enhance the overall consumer experience within any ATM or retail point of sale environment where this service is accepted. Those two capabilities are: a software-only merchant acceptance interface and a white label digital wallet app.

The executive vice president of product management at Pulse, Judith McGuire, spoke of the mobile payments opportunity and partnership with Pulse by saying that “Paydiant’s platform enables us to offer both our financial institution participants and merchant partners their own branded mobile wallet.” She went on to add that “Paydiant’s unique approach is an important part of Pulse’s overall mobile services strategy.”