Visa is introducing a new card terminal in London taxi cabs that will allow passengers to pay for fares with contactless payment cards, according to tradingmarkets.com.
Visa is partnering with Transport for London (TfL) for the roll out, which will initially involve 58 taxis equipped with VeriFone terminals, with Ingenico, CabCard, and CabVision providing a further 25 terminals, says tradingmarkets.com.
The card payment terminals, which also accept EMV and magnetic stripe cards, will be located in the back of the taxi cab and thus operated by the passenger instead of the driver. Contactless payment is limited to journeys under £15.
Visa has already launched a similar system with Dublin’s National Radio Cabs, according to tradingmarkets.com. Once it goes live in London, the service will be offered on all of 22,000 of London’s licensed taxis.
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