Way2ride, the taxi app by Verifone (NYSE: PAY) that has already changed the way we pay for a cab, is now changing the way we find one. Taxi passengers in New York began hailing with an update to Way2ride in February 2015, giving them access to nearly 14,000 yellow taxis and green cabs across all five boroughs of the city when over 30,000 licensed drivers began receiving trip requests through their existing Verifone in-taxi equipment. The pilot phase featured driver training, usability testing, and consumer research to ensure the best experience for passengers, drivers and medallion owners.
Way2ride™ is available today for both iPhones® and Android® phones and can be downloaded right now from the Apple® App Store® and Google® Play®.
WAY2RIDE™: THE EASIEST WAY TO HAIL AND PAY FOR TAXIS
Using Way2ride to hail a cab is as simple as pressing the “hail” button and confirming your pickup location. There’s never any surge pricing; you only pay what’s on the meter, plus a nominal flat fee for hailing with the app.
When the ride is over, payment is automatic. And whether you’ve hailed with Way2ride, or simply used the app for payment, the tip is up to you, and 100 percent of it goes to your driver.
Way2ride’s hailing feature is made for those moments – such as rainy days or late nights –when finding and hailing a cab on the street isn’t easy. It’s also a great solution for the NYC boroughs, where taxis aren’t as easy to find, and more than 70 percent of green cabs are Verifone clients.
BACKED BY VERIFONE, THE WORLD LEADER IN PAYMENT AND COMMERCE
Way2ride is backed by Verifone, the world leader in payment and commerce solutions; the world’s leading provider of technology that powers taxis; and the trusted brand for payment security. Verifone powers over 85,000 cabs in more than 100 cities across the globe with secure payments, cloud-based dispatch systems and fleet management tools, mobile apps, digital media and much more.
Verifone was the first to introduce credit card terminals linked to the taxi meter – ensuring what a passenger paid was the actual metered fare; the first to introduce digital entertainment and advertising inside the cab; the first to offer digital, geo-targeted advertising outside the cab; and the first to deliver a taxi payment application with the launch of Way2ride™ two years ago. Verifone was also the first to enable the option for consumers to pay with their American Express Membership Rewards points in New York City taxis, as well as provide the option to pay with Apple Pay® or Google Wallet.® And, earlier this year, Verifone added support for PayPal® using Way2ride™.
“Traditional taxis are safe, reliable, and the heart and soul of New York City transportation,” said Amos Tamam, Senior Vice President, Global Taxi Systems for Verifone. “Verifone is committed to delivering the security and innovation that passengers, drivers and medallion owners need to enjoy the best experience imaginable. Demand for this groundbreaking technology has been amazing, which is why we decided to be the first to deliver e-hail for taxis in New York.”
FIRST IN NEW YORK; COMING SOON TO ADDITIONAL MARKETS
Following its formal introduction of Way2ride™ in New York City this week, Verifone will roll out its e-hail app in Boston, Miami, Washington, DC, and Las Vegas, and will launch in all U.S. Verifone markets in 2016.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and on currently available competitive, financial and economic data and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of VeriFone Systems, Inc., including many factors beyond our control. These risks and uncertainties include, but are not limited to, those associated with: successful rollout of our Way2ride taxi e-hail feature, market acceptance of our product and services offerings, execution of our strategic plan and business initiatives and whether the expected benefits of our plan and initiatives are achieved, short product cycles and rapidly changing technologies, our ability to maintain competitive leadership position with respect to our payment solution offerings, our assumptions, judgments and estimates regarding the impact on our business of the continued uncertainty in the global economic environment and financial markets, our ability to successfully integrate acquired businesses into our business and operations, our ability to protect against fraud, the status of our relationship with and condition of third parties such as our contract manufacturers, distributors and key suppliers upon whom we rely in the conduct of our business, our dependence on a limited number of customers, the conduct of our business and operations internationally, our ability to effectively hedge our exposure to foreign currency exchange rate fluctuations, and our dependence on a limited number of key employees. For a further list and description of the risks and uncertainties affecting the operations of our business, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. The forward-looking statements speak only as of the date such statements are made. Verifone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.
Verifone is transforming everyday transactions into opportunities for connected commerce. We’re connecting more than 27 million payment devices to the cloud—merging the online and in-store shopping experience and creating the next generation of digital engagement between merchants and consumers. We are built on a 30-year history of uncompromised security. Our people are known as trusted experts that work with our clients and partners, helping to solve their most complex payments challenges. We have clients and partners in more than 150 countries, including the world’s best-known retail brands, financial institutions and payment providers.
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