NFC Set to Be Used in Taxi Payment in Australia

Australia-NFC-taxi-fare-contactless-payment-rfid-blogThe Australian company Cabcharge specializes in taxi payment technologies. Its payment terminals are widely used across the country.

In 2008, the company signed a deal with VeriFone, an international producer and developer of electronic payment systems, which brought 20,000 electronic payment terminals to Australia. Recently, Cabcharge hit the two-million contactless payment transactions milestone in the use of these terminals, and is expecting that number to rise exponentially.

The company particularly has high hopes for MasterCard and Visa contactless payments, which have each racked up 500,000 transations since the beginning of the year. Approximately 20% of all the transactions processed by Cabcharge made through MasterCard and Visa have come from mobile commerce systems.

Cabcharge also has plans to adopt NFC technology, by upgrading existing in-taxi payment engines that link the EFTPOS pin-pad to the company and National Australian Bank’s transaction processing centers.

It has recently launched the first production run of the Fareway Plus system. This system incorporates NFC technology to facilitate mobile transactions from mobile devices, such as smartphones or tablets. With the new system in place, consumers with NFC-enabled mobile devices can use their devices to pay for their taxi fare.