Taxi Apps Worried about Credit Card Regulations
Taxi smartphone apps like MyTaxi are worried about credit card regulations that may threaten their profitability.
These apps help provide users with a taxi to take to a destination and then get paid if the user pays with a credit card. New credit card regulations in D.C. and other parts of the country may prevent cab drivers from accepting payment through MyTaxi. Drivers will either have to pick one single method of payment processing to use in their vehicles, or they will have to install machines in their cabs. Either way, it puts cab apps out of business.
“They want to implement this special service, and that means we would have to implement another technology. The DCTC is basically restricting innovation like ours,” said MyTaxi spokesperson Lina Wueller.
Wueller does acknowledge the fact that taxis are moving toward more technological payment processors, but she says the rules just don’t allow for apps like hers to spread through the market.
“The new regulations when they finally become effective, it is a loss for us because obviously our core feature will be missing,” said Wueller. “If we cannot fulfill the requirements, will basically act like a dispatch service. But that will mean people in Washington won’t have this very secure way to pay for a taxi. Why do they want to stop us?”
Despite the slight “speed bump” in plans, MyTaxi is still working on new technology for the future, including a multi-lingual option for riders who do not speak English.