Bank of America powers payments for US launch of ride hailing app Karhoo
24 October 2016 | 3366 views | 0
Powered by Bank of America Merchant Services eCommerce and cybersecurity solutions, Karhoo is gearing up for the U.S. launch of its app-based ride comparison and hailing service.
Currently operating in London and several other United Kingdom cities, Karhoo helps riders compare and choose from tens of thousands of licensed and regulated cars based on proximity, price, and vehicle style. As an aggregator of local ground transportation options, the app enables price comparison, secure cashless payments, and even scheduled rides for greater peace of mind.
Karhoo’s value proposition is simple and compelling. People are now accustomed to tapping a button on their phone, ordering a ride, and paying for it in-app with their credit card. Karhoo gives riders the chance to e-hail with even more choice, bringing dozens of local transportation services and thousands of cars together on one platform.
Karhoo's proprietary technology directly connects to fleet dispatch systems and, thanks to Bank of America Merchant Services, securely facilitates payments. Regulated and established transportation providers can take advantage of the e-hail revolution and tap into a whole new rider base. In London, Karhoo-connected fleets are seeing revenue increase up to 30 percent.
“Not only does Karhoo give customers tremendous choice when it comes to ground transportation, it also provides a seamless way to pay for each trip,” said Daniel Ishag, Karhoo founder and CEO. “With its global footprint and acumen integrating its solutions with existing systems, Bank of America Merchant Services is the ideal partner to help us safely and quickly facilitate these transactions.”
For its upcoming U.S. launch, Karhoo turned to Bank of America Merchant Services for secure, seamless payments processing; cybersecurity solutions like TransArmor® Data Protection and Fraud FlexDetect℠; and Card Account Updater, a service that takes the pain out of keeping customer billing information up to date.
Bank of America Merchant Services CEO Tim Tynan said: “What Karhoo achieved in its first six months operating its ride-hailing service in London - pulling in more than 33,000 cabs and now booking 7,000 trips per day - is nothing short of extraordinary. Bank of America Merchant Services is thrilled to consult with Karhoo on its U.S. launch, and we look forward to helping payments flow seamlessly and securely between Karhoo customers and transportation providers.”