For the first time in the Philippines, Davao’s Mabuhay Taxi will start offering a cashless payment system for cab riders in the city.
After partnering with China Bank and BancNet, the first 20 units of the Mabuhay Taxi were provided with wireless point-of-sale (POS) terminals to facilitate the cashless transaction.
Being the first of its kind in the country, this move to cashless payment system makes it more convenient to commuters to ride the cabs especially with the current issue in contracting taxi drivers and additional charges (tips) that are normally being asked by abusive taxi drivers.
“Today, almost everyone has an ATM card, and people are already familiar with POS transactions in stores and boutiques,” said Joselito Crisostomo, branch head of China Bank Davao-Lanang. “Why not taxis? It’s safe and convenient to use ATM and debit cards to pay for goods and services. What’s more, there is no minimum payment for cab fares, even if it is below P100, the transaction will still be processed.”
As a pioneering company, it is more likely to be adapted here in Metro Manila should the project’s initial phase resulted good which of course it will considering its promising attempt to put transportation in a higher level.
Mabuhay Taxi’s partnership with China Bank and BancNet is good within two years. Currently, the POS units specifically accept ATM and debit cards only but it will soon cater to credit cards users as well hoping that eventually, cashless payment will also be the norm in paying for fares in any public utility vehicle.
Last modified: July 8, 2012