Sign up Australia
Proactive Investors - Run By Investors For Investors

Smartpay Holdings launches taxi payments business

Smartpay Holdings launches taxi payments business

Smartpay Holdings (ASX:SMP, NZE:SPY) has launched its new taxi payments company with Cabit Taxicabs Pty Ltd, one of Victoria’s largest taxi companies, signing up as its first major customer.

The company has also secured contractual relationships with two New South Wales taxi operators, which together with Cabit Taxicabs represent an initial terminal base of 700 taxis.

Smartpay Taxis will target increasing opportunities in the Australian taxi payments industry driven by recent regulatory changes.

It leverages the scale of the company’s existing retail payments business together with its “Taxipos” taxi payments technology.

Cabit Taxicabs was formed earlier this year when a number of taxi owners combined their fleets to achieve efficiencies in the face of the regulatory changes in Victoria.

Taxipos has recently gained Australian bank certification and includes real-time transaction reporting across individual drivers, cars and fleets enabling quicker and more accurate driver payment and overall fleet management.

It integrates seamlessly with Smartpay’s recently launched smartphone taxi booking app.

This is the same technology provided by Smartpay in New Zealand where it is the leading taxi payments technology provider to the majority of New Zealand taxis.

There is scope to grow its tax business as the effects of the new legislation require the industry to seek out new payments partners able to support their businesses through these changes.

Victoria had earlier this year halved the flat 10% fee for electronic payments. It was followed by New South Wales this month.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full SMP profile View Profile

Smartpay Holdings Ltd Timeline

September 03 2013

Related Articles

Vault online software in the cloud image
August 08 2018
The company has achieved strong sales on the back of its risk and safety management software systems.
Mexican flag
March 26 2018
PLCs in emerging markets no longer have to find someone to promote their company to overseas investors
September 18 2018
New business from the likes of Vodafone and GSK and a strong contribution from The Corner, which it acquired in December, meant revenues jumped 70% in the first half

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use