Cab drivers look to mobile payment for credit card processing
News from Washington Post:

Grand Cab Co. driver Kalechristos Jima has been driving in Washington for 15 years. He works Thursday, Friday and Saturday nights, usually carrying 10 to 15 passengers a night.

Jima thinks he’d get significantly more business if he had a device to process credit cards. Every night, potential passengers turn him away because they don’t have cash, he said.

Not accepting cards has created “some kind of animosity between the rider and us,” Jima said.

Early next year, Jima will join a small group of D.C. cab drivers accepting credit card payments on their smartphones. He recently signed up for the German smartphone app myTaxi, which allows customers to book cabs and pay for rides using their credit cards.

The company will soon distribute credit card readers — to be attached to the drivers’ smartphones — so they can accept payment from any riders they pick up, even if they’re not myTaxi passengers. MyTaxi drivers are currently charged 2.75 percent of each transaction, and the same will apply for credit card transactions.

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