Riding in a yellow taxi used to be a miserable experience, which helps explain why Uber and Lyft were able to swoop in and so thoroughly disrupt the industry. Fed up with unreliable and dirty taxi rides, passengers migrated en masse to ride-hail apps that promised cleaner rides, friendlier drivers, and seamless payments. Taxi operators tried to stave off the bleeding by rolling out their own apps — but most were just pale copies of Uber. Now, the traditional taxi industry is launching a new counter-offensive against the ride-hail menace: gadgets.
Starting this year and ramping up in 2017, Verifone Systems — one of the largest payment processing companies in the world — will install new technology in tens of thousands of cabs nationwide, in a massive effort to improve the cab-riding experience for not only riders, but drivers as well. Verifone owns taxi meters, credit card machines, and entertainment systems in dozens of markets in the US, including New York City, where it controls around half of the city’s fleet of yellow and green cabs.