VeriFone corners NYC taxi business

VeriFone Transportation Systems is now the preferred provider of integrated payment solutions for the Committee for Taxi Safety, New York City's largest taxicab medallion leasing association. The group includes 10 organizations, representing about 3,000 members.

VeriFone Holdings Inc. is the majority shareholder in VTS, a joint venture between VeriFone Holdings and TaxiTronics, which already services over 8,000 of the city's taxi meters.

The New York City Taxi and Limousine Commission issues medallions to the city's taxicabs. It mandated that beginning Oct. 1, 2007, all 13,000 of the city's taxis must have technology-based customer service improvements installed at their next scheduled inspections.

Required improvements include credit and debit card acceptance, as well as interactive electronic passenger maps and information screens. VTS was the first vendor to meet the commission's requirements.

More than a payment vehicle

"Reliability, previous experience and a wealth of functionality made VeriFone Transportation Systems the logical choice for all members of our organization," said David Pollack, Executive Director for the Committee for Taxi Safety.

"We are pleased to begin this new era in technology with a company that has impeccable equipment and software for our drivers," he said. This includes "up-to-the-minute access to real-time traffic information, news, sports, weather and entertainment."

VTS' wireless technology provides mobile, integrated payment options, including card swipe and contactless credit and debit payment. It has an ATM-style interface. A 10.4-inch touch-screen monitor offers exclusive news and content through a partnership with WABC-TV in New York.

"In addition to providing customers with convenient payment choices, member organizations will benefit from improved fleet management and the potential for enhanced revenue through advertising," said Amos Tamam, President and Chief Executive Officer of VTS.

This new project expands on previous trial efforts in Mexico City and certain U.S. cities, such as Philadelphia, where VTS has an exclusive contract for all 1,600 taxis.

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