A QUICK TAXI STORY...A QUICK TAXI STORY WHERE IT ALL BEGAN FRIEDRICH WILHELM GUSTAV BRUHN invented the taximeter in 1891, and it is from the word taximeter that taxi became the new

A QUICK TAXI STORY

WHERE IT ALL BEGAN FRIEDRICH WILHELM GUSTAV BRUHN invented the taximeter in 1891, and it is from the word taximeter that taxi became the new word for cab. The word comes from French-taxe (price) and Greek-metron (measure). The idea that drivers would become accountable for their pricing immediately enraged taxi drivers and the story goes a mob of angry cab drivers threw Herr Bruhn in the Thames.

TAXIMETER TECHNOLOGY SLOWLY ADVANCES

TAXI DRIVERS REVOLT AGAINST TECHNOLOGY

BUT IS IT A TAXI METER?

•  The taximeter measurement of distance to calculate charges for taxi fares has traditionally been accomplished through mechanical means (rotation of the vehicle’s transmission components or the vehicle’s wheels).

•  A GPS meter app functions by the entering a point of origin and a point of destination into mapping software to calculate the distance.

•  This calculation is dependent on a pre-selected route which may or may not be the actual route followed by the hired vehicle. The charge for the trip is pre-determined.

•  The second type of GPS meter app is a receiver located in a vehicle for hire provides the actual route traveled.

•  US NIST has recently formed a GPS sub comittee to develop new specifications for commercial time and distance measurement, including tolerances and test procedures for Handbook 44.

CASH IS TRASH: MONEY 3.0- THE FUTURE OF MOBILE PAYMENTS

Given that 6 billion people have access to a mobile phone, the Money 3.0 opportunity is enormous. Studies by Visa show that Americans are twice as likely to carry a phone as cash; those between 18 and 34 are four times more likely. Mobile payments doubled between 2012 and 2013 to $1 billion The evolution to digital payment will be fast, but will not render cash completely extinct. 

What does the future really hold for Taxi Payments and Technology?

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