With the tremendous increase in world populati on, the daily travel needs of users are increasing exponenti ally. Ground, air and public transport are all seeing excepti onal growth. The worldwide taxi industry, a major ground transport avenue, is conservati vely esti mated to be worth US$130 billion as at 2016 and growing at 5-6% annually.
We have served passengers and drivers in Taxi / Hire car / Limousine industry for more than 5 years and have realised the excessive costs charged by credit card companies and the bank for processing the payments.
The charge to the customers and the service providers are of the order of 13-15%. We have been looking for ways to eliminate or reduce this 13-15% excessive cost and have concluded that the Blockchain
technology uti lising the peer to peer decentralised system would be the way to go. This will eliminate the credit card companies and the banks from the transacti on process. The Blockchain based technology transacti on verifi cati on costs are very minimal, typically much lower and all transacti ons can be verifi ed within seconds.
Hence the development of innovati ve Block chain technology based patented TaxiCash™ token.
TaxiCash™ is a patented, and trademarked token developed for the mobile applicati on to be adopted in Taxis and Transport industry. TaxiCash™ eliminates 13-15% of transacti on costs and makes the payment processing extremely effi cient and cost eff ecti ve as well as concluding transacti ons within seconds.
TaxiCash™ technology will be designed for futuristi c driverless vehicles as well. The TaxiCash™ Mobile Meter Applicati on (TMMA) processes payments to driver and passenger wallets in associati on with TaxiCash™ Auto Interact Wallet (TAIW) system. This is a GPS based patented system developed by us.
The integrati on of GPS technology with the Blockchain Technology will be a world fi rst and is also subject to Patent protecti on
We are very excited to bring this patented technology to the world and revoluti onise the transport industry payment processing methods.