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NYC Taxi and Limousine Commission Experience with Credit / Debit Cards in Taxis

NYC Taxi and Limousine Commission Experience with Credit / Debit Cards in Taxis. IATR Survey Results. 20 Respondents (11 USA, 9 Canada, Bermuda) 90% Accept Credit Cards 50% Mandated / 50% Optional 3 Cap Credit Card Fees Fees Related to credit cards Reoccurring Monthly Fees (Base)

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NYC Taxi and Limousine Commission Experience with Credit / Debit Cards in Taxis

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  1. NYC Taxi and Limousine CommissionExperience with Credit / Debit Cards in Taxis IATR Annual ConferenceSeptember 12 - 16, 2009New York City

  2. IATR Survey Results • 20 Respondents (11 USA, 9 Canada, Bermuda) • 90% Accept Credit Cards • 50% Mandated / 50% Optional • 3 Cap Credit Card Fees • Fees Related to credit cards • Reoccurring Monthly Fees (Base) • Initial Equipment Costs (Driver) • Equipment Maintenance Costs (Driver) • Transaction Fees (Driver) • 50% Permit the Passenger to Swipe Card IATR Annual ConferenceSeptember 12 - 16, 2009New York City

  3. TLC Experience with Credit Cards • Optional before 2007 mandate • Required as part of T-PEP • Store Forwards • Floor Limit Approval • Initial resistance • Enforcement - Secret Rider • Now almost 40% of fares by dollar value IATR Annual ConferenceSeptember 12 - 16, 2009New York City

  4. Chart of Credit/Debit Card Usage Credit/Debit Card Fare* Over $800,000,000 Credit/Debit Card Trips*Over 53,000,000 *Oct 07 to Aug 09 IATR Annual ConferenceSeptember 12 - 16, 2009New York City

  5. Other Credit/Debit Facts • Tips Average 18%+ • Automatic Tip Calculator • Idea from focus groups • Chargebacks rate extremely low (1:10,000) IATR Annual ConferenceSeptember 12 - 16, 2009New York City

  6. T-PEP Business Model • Owner Pays For: • Installation cost • Monthly Service Charges • Maintenance • Driver Pays For: • Credit/Debit Card Fee • Capped at 5% • Driver paid at end of shift IATR Annual ConferenceSeptember 12 - 16, 2009New York City

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