26 September 2016
Visit dh.com

Square cuts New York taxi pilot short

16 October 2012  |  8478 views  |  0 STOP

Square has pulled the plug on a pilot with New York taxi drivers so it can overhaul its iPad-based card payments system to meet new rules.

Under an agreement with the New York Taxi and Limousine Commission (TLC), Square has been running a small-scale pilot, involving around 15 cabs, for the past few months. The system consists of an iPad fitted with a card reader in the taxi partition and an iPhone in the front, enabling customers to pay their fare with a swipe.

Only a fortnight ago the firm's chief Jack Dorsey accompanied New York Mayor Michael Bloomberg on a ride in a Square-fitted cab for a photo opportunity yet now the trial has been killed off ahead of its intended completion in February.

According to a 12 October letter from Square to the TLC - obtained by the New York Post - the start-up is terminating their MoU having "determined, in light of developments in prospective taxicab regulations in New York and other markets, and based on what we have learned from conducting the Pilot Program to date, that we wish to pursue a different hardware and software solution for our TPEP offering."

Therefore, says the letter, it would be "commercially unreasonable" to carry on with existing pilot. The agreed 45 day notice period has been waived by the TLC and the participating taxi drivers will be reimbursed. Square will also foot the bill for retrofitting cabs with technology from VeriFone or Creative Mobile Technologies, the two incumbents.

KeywordsEFTPOS

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Cab-hailing app adds mobile payments capabilities

Cab-hailing app adds mobile payments capabilities

11 October 2012  |  6648 views  |  0 comments
Square acquires digital design agency

Square acquires digital design agency

01 October 2012  |  4915 views  |  1 comments
Square closes $200m funding round

Square closes $200m funding round

17 September 2012  |  6698 views  |  0 comments
Square payments hit by outage

Square payments hit by outage

22 August 2012  |  7396 views  |  0 comments
Square bids to take over the point-of-sale

Square bids to take over the point-of-sale

05 March 2012  |  10341 views  |  2 comments
VeriFone and MasterCard equip Philly taxis with PayPass

VeriFone and MasterCard equip Philly taxis with PayPass

15 November 2006  |  6487 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit capgemini.comFind out more

Top topics

Most viewed Most shared
RBS tests demonstrate ability of Ethereum to support a national domestic payments systemRBS tests demonstrate ability of Ethereum...
11978 views comments | 48 tweets | 33 linkedin
Banks test blockchain for reference data managementBanks test blockchain for reference data m...
8375 views comments | 16 tweets | 25 linkedin
Swift beware: Ripple signs banks to global payments steering groupSwift beware: Ripple signs banks to global...
7121 views comments | 31 tweets | 14 linkedin
Deutsche Bank teams up with accelerator to back fintech startupsDeutsche Bank teams up with accelerator to...
7080 views comments | 12 tweets | 5 linkedin
BNP Paribas extends crowdfunding blockchain programmeBNP Paribas extends crowdfunding blockchai...
6916 views comments | 15 tweets | 15 linkedin

Featured job

Find your next job