Are you tired of turning away customers who don’t have cash? According to a recent Finder.com survey, over 40% of UK consumers now prefer to pay with cards or mobile wallets. So, let’s explore how cashless taxi payments can boost your business and stop you from missing out on precious fares.
The benefits of contactless taxi payments
These days, customers prefer to make card or mobile wallet payments. If they’re on the move, they may not have debit cards to withdraw cash. A contactless taxi payment solution puts you ahead of the game and keeps customers who need to make a quick tap or swipe to pay satisfied.
It’s safer for taxi drivers. The last thing you need late at night is to count out change or be targeted for your takings. There’s much less risk and legwork involved when you choose cashless solutions, including loss and theft.
Having a contactless payment system in place will boost takings as you won’t be turning anyone away. Plus, there’s less chance of wasting time pulling up at cash machines…or trying to find one! Customers often choose Uber over local cab firms as they can pay with their phone, so why not get back in the race with better payment methods?
Do you need more straightforward tax returns? Digital payment systems make keeping tax records more straightforward, plus it’s easy to sync accountancy software like Xero to your bank account.
Choosing a payment solution for your taxi
If you’re wondering how to take payments in your taxi, then you’re in the right place. There are several ways you can collect fares beyond taking cash. The obvious one is using mobile card readers. Customers are familiar with cards, and they get the job done. But we don’t want you to give up so quickly! Card payments may come with hefty processing fees and hidden extras like hardware costs and subscriptions. So, it’s worth doing your research.
The payment methods you choose can also depend on the size of your fleet! If you’re a fully-fledged operation with several drivers, then you might have different needs, such as online payments or pre-payments.
Have you considered open banking payment solutions like QR codes? Atoa uses open banking to help businesses like yours get paid instantly from customers’ bank apps. Plus, remember that you don’t have to limit yourself to one payment method or provider. Take cash if it works for you, and flit between both card and open banking payments. The choice is yours, but make sure that fees are fair and work for you.
Before committing, research your provider’s fees, any hardware you may need and whether they offer solid customer support. Customer reviews on Google and Trustpilot are always a good reflection…
Other cashless taxi payment options
We’re a bit biased, but we think QR code payments and taxi fares go hand-in-hand. Customers scan a code to pay through their bank app, and funds are deposited directly into your linked bank account.
A massive benefit of QR code payment solutions for businesses like yours is a cost-effective setup. Atoa doesn’t come with a fancy hardware shopping list, in fact, all you need is a smartphone and our app to start accepting payments in your cab.
If you’ve got a busy office taking bookings, they can use our dashboard to manage payments on a desktop. Furthermore, this is a win for deposits and pre-payments for airport runs or scheduled rides using payment links.
How to accept cashless rides with Atoa
We’re all about making your journey smoother. Here’s a quick step-by-step guide to start accepting cashless and contactless fares in your cab.
1. Set up your Atoa account: It takes minutes! Sign up for a business account on our website and verify your business to remove payment limits. Then, download the Atoa Business app for your phone or tablet.
2. Create your payments: You’ve got a few options!
- Pre-print your QR codes with your standard fares that customers can scan to pay.
- Plus, generate QR codes in the app for custom or long-distance rides.
- You can also create payment links for upfront deposits.
3. Show your codes off: Place your QR codes near seats, windows, or wherever your passengers can quickly scan.
4. Spread the word: Tell passengers they don’t need cash to ride and can pay with a quick scan. Show off your new payment method with free Atoa stickers from us.
💡 Why not offer a small discount for your first few customers who pay with Atoa?
But why go cashless?
It’s much safer (and simpler) for you to take fares. You also get bank-level security with payments confirmed by face or fingerprint scans. Ditch the card details to stay GDPR-compliant and in line with data security. Passengers scan and pay you straight from their banking app and then continue their day.
FAQs
How do QR code payments work?
QR codes store payment information. When a passenger scans the code with their smartphone camera (usually within a banking or payment app), the app reads the code and securely completes the fare payment from the passenger’s account.
Are QR code payments secure?
QR code payments use the same technology as contactless card payments, making them a safe payment method. The information is encrypted, and transactions often require additional verification from the passenger, such as a face or fingerprint scan on their phone.
What equipment do I need?
Some solutions offer a stand or stickers with your unique QR code printed on it. Others may pair with existing card payment machines or let you use smartphones or devices to show QR codes.
How Atoa can help
Are you accepting cashless payments in your taxi? Start today by signing yourself up for a 14-day free trial to see what Atoa can do for you.
