HONG KONG SAR –
Media OutReach Newswire – 31 January 2024 – With the dawn of the New Retail Era, there has been a significant uptick in the use of electronic payment methods among the public. This trend, coupled with the Hong Kong Government’s dedicated efforts to foster the development of a smart city, has led various industries to actively pursue digital transformation. Supported by
EFT Solutions, a leading e-payment solution provider, and funded by Innovation and Technology Fund,
CabCab which is a brand under
Mobile Shop, a local taxi management and operation company, and the
Automotive Platforms and Application Systems R&D Centre (APAS), are excited to jointly announce the launch of “CabCab”, the first smart taxi metre in Hong Kong which is endorsed by the government. It will initially be piloted on 100 Urban and New Territories taxis, with a target to have 1,000 taxis equipped with the smart metre by the third quarter of this year.
Developed collaboratively by CabCab and APAS, and with the support of EFT Solutions, the innovative smart taxi metre “CabCab” offers more than just the functionality of electronic receipts in the future. It will simplify fare calculations for taxi drivers in scenarios involving toll tunnels, toll roads, toll areas, or other additional service charge. Drivers can conveniently select the relevant additional fees on the CabCab system, which then automatically calculates the total fare, thereby reducing the risk of human error associated with manual addition of these charges.
Mr. Wong Yu-ting, Managing Director of CabCab and Chairman of Hong Kong Tele-call Taxi Association, said, “CabCab stands apart from the traditional taxi metres. It offers a range of electronic features that significantly reduce manual operations, as well as opening access to different payment platforms, thereby enhancing the efficiency and quality of driver services. This innovation is set to positively transform the business ecosystem of the taxi industry.”
Mr. Sam Hui Kin-sang, CEO of CabCab, said, “CabCab is the first smart taxi metre which is developed by local enterprises and endorsed by the HKSAR. Along with the cooperation with EFT Solutions, the local e-payment solution provider, CabCab will introduce variety of electronic payment methods through the stable and certified system that meets the international security standards, to bring more convenient and safe payment experience for taxi passengers.”
The application of e-payment has seen a dramatic increase in recent years, with more public transport systems gradually incorporating these payment options. CabCab will also expand its support for a variety of e-payment methods, including major payment platforms such as QR Code, credit cards, NFC, and overseas wallets.
Mr. Andrew Lo Chun-kit, Chairman and Chief Executive Officer of EFT Solutions, said,” We are honored to participate in the project of CabCab and APAS to have achieved this milestone. This breakthrough not only revolutionizes the taxi sector but also promotes Hong Kong as a smart city. We will dedicate to continuously create more payment scenarios that move beyond the need of physical wallets, allowing the public to fully embrace the advantages of ‘smart mobility’.
CabCab plans to integrate with “Internet of Vehicles (IoV)” and introduce new features such as taxi radio call and a positioning system, to address various industry pain points and enhance the whole system. Additionally, it aims to be implemented in 1,000 Urban and New Territories taxis by the third quarter of this year.
Dr. Lawrence Cheung Chi-chong, Chief Executive Officer of Automotive Platforms and Application Systems R&D Centre, said,” There are currently over 18,000 taxis in Hong Kong, making them one of the primary means of public transportation for passengers. Taxis play a crucial role in promoting the development of green transportation in Hong Kong. APAS is committed to accelerating the development of automotive science and technology and actively supporting the industry, technical institutions, and other cooperative research and development of different advanced technologies. Our collaboration with CabCab is one of the achievements of the application of science and technology. APAS will continue to work with industry practitioners to develop more high-end technologies, as well as solve the pain points of the industry and promote Hong Kong’s development towards a ‘smart city.’
Hashtag: #CabCab #MobileShop #HKPC #EFTSolutions
The issuer is solely responsible for the content of this announcement.