Loop is on a mission to digitize the payment system for the taxi industry.<\/p>\n\n\n\n
The Woodstock-based fintech start-up company, in partnership with financial service provider Visa, officially launched the tap-to-pay instant payment system for taxi commuters yesterday (Thursday).<\/p>\n\n\n\n
The pilot project allows the commuters to pay using their cellphones and can pay using the Tap-to-Phone option or the Chat-to-Pay feature on WhatsApp.<\/p>\n\n\n\n
The Chat-to-Pay solution enables commuters, who signed up with Loop, to use their cellphones to scan the driver\u2019s QR code on display in the taxi. Commuters then see the driver\u2019s picture, name and vehicle registration, and can settle their taxi fare using the safe and secure Chat-to-Pay feature on WhatsApp.<\/p>\n\n\n\n
The company has partnered with the Mitchell\u2019s Plain, Bellville Taxi Association. The service is available in about 70 taxis, fitted with a Loop sticker. <\/p>\n\n\n\n
The taxis currently run between Mitchell\u2019s Plain to Bellville and Manenberg to Cape Town.<\/p>\n\n\n\n
Imtiyaaz Riley, Loop founder and a Manenberg resident, says the aim is to solve payment issues experienced in taxis.<\/p>\n\n\n\n
Riley grew up in a family that operated taxis and is fully aware of all the challenges facing the industry. <\/p>\n\n\n\n
\u201cThe minibus taxi industry is the backbone of public transport in South Africa and for generations, owners and associations could not track the income of their taxis accurately. With our solutions, owners and associations can now transact digitally and seamlessly with Loop\u2019s tech-based solutions.\u201d<\/p>\n\n\n\n
Riley appeals to taxi associations to partner with them and hopes to roll out the project across the country in the future.<\/p>\n\n\n\n
Jamie Wyngaard, Loop co-founder, says: \u201cWhen I used minibus taxis, I would spend up to 20 minutes a day waiting in the line at an ATM, and then deal with the anxiety of asking the driver for change. Using Design Thinking, we conducted research interviews with commuters, drivers and operators.<\/p>\n\n\n\n
\u201cWe\u2019ve come up with various payment solutions, and so partnering with VISA and using their Tap-To-Phone was a natural fit. People have enough to worry about in this country \u2013 paying for a taxi shouldn\u2019t be one of those worries.\u201d<\/p>\n\n\n\n