Merchant Services for Taxis

Merchant Services for Taxis

A discount merchant processing account for a taxi can change the way the taxi company makes money during the day by reducing overhead costs and increasing profits. The traditional cash payment for a cab ride has changed over the years, and more people are no longer carrying cash in their wallets at all. A taxi company that wants to remain competitive should make sure they offer their fares the easiest way possible to pay, and do so at a bargain price to reduce their own expenses.

The Taxi Driver’s Needs

Every taxi driver should get a credit card processing terminal in their vehicle, and make sure they also have markings on their vehicle stating that they will accept credit or debit cards as payments. This setup helps the driver pick up more fares, and leaves no doubt in the customers’ mind that they have a wide variety of payment options available to them.

The Interior

When a fare gets in the cab, they should be met with either a credit card terminal in the back of the taxi, or one up front which can be passed back to the rear seats. The fare who is sitting in the back can handle their payment before the taxi ever arrives at its destination by pre-paying. For taxis who prefer to conduct transactions at the end of the trip, this can be done as well. The fare will plug their card into the terminal, insert their password, approve the tip they want to leave and get a receipt. The taxi driver does not have to exchange money with the fare, and the fare can get out of the taxi quickly.

Also, the driver does not have to waste time waiting to make change for the fare, which means they can move on to the next fare faster each time. A driver who wastes less miles looking for fares will also keep their vehicle in better condition.

Why Payment Depot?

Most credit card processing companies charge a percentage-based markup on each transaction – and that’s something that can take a big bite out of profits on fares, especially those in the $50+ range. Payment Depot solves this problem by offering low bargain-priced subscription plans which have per-transaction costs of as low as 10 cents each time. That means more money in the taxi company’s pockets, better wages for the drivers, and higher profits for the shareholders. When it comes to merchant services for taxis, Payment Depot really is the ideal choice!

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