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Forget about loose change when paying your taxi fare in Colombia

Bogota, April 9, 2014.  Paymentez, MasterCard and Credibanco introduce the first solution for taxi fare payment processing in the Colombian market. Starting this month, users will be able to register their credit cards into an app and pay for the service in an easier and safer way. During the first stage of this offer, over 30,000 taxis will join the banking system through a virtual account supported by the prepaid TaxiCard from Paymentez and MasterCard, where the fares will be deposited automatically at the end of the transaction. “We are offering our broad experience in electronic transactions, state of the art technology and best practices for processing safe transactions and storing information, guaranteeing safe transactions for users that decide to pay taxi fares through their credit cards,” stated Juan Franco, Paymentez CEO. The payments platform aimed at virtual companies such as Smart Taxi, the first one to adopt it, looks to facilitate the thousands of small payments transactions from users of this public transportation sector. “With more than 100,000 users a day and more than 9,000 registered taxi drivers, Smart Taxi is the safest application to get a taxi in Colombia.  Besides monitoring 100% of the services in real time, all registered drivers have to pass through a strict security filter, where their personal information, as well as the taxi’s information, are verified”, said Juan Roldan, CEO of Smart Taxi.

To read the full press release, please click here.