Taxi fare exchange service

This service provides both a database for taxi companies operating within a given area, and a platform through which those companies can share customer fares if there are gaps in service provision for one company and a surplus of cars for one or more market competitors. When one provider cannot fulfil an order which has been requested or even accepted, the order can then be passed on to the exchange centre where it will be accepted by any other company which has availability. Sometimes there are no free cars, but there is also the possibility that a taxi has been ordered from or to an area that the company does not cover, or that the customer has requested a car type which does not feature in the company's fleet. This gives taxi companies which can adequately process their normal order volumes the opportunity to accept more fares from competitor taxi services and, accordingly, attract new drivers.

Service benefit

• Taxi services will increase revenues both when they pick up fares through the centre, as they will receive the revenue amounting to cost of the fare, as well as when orders are processed and given to other taxi services, as orders are purchased through the centre.
• Orders can also be exchanged between companies on a basis of equivalence, using sophisticated mapping systems which can distribute fares based on location, distance and routes.
• Much more reliable guarantee of a free vehicle for the customer.

The personal data of both drivers and passengers is protected: the telephone number of the driver is not available to the customer making the order, and the customer's telephone number is not available to the driver providing the service.

Each taxi company using the service will have access to an online account where personal details are stored. This will allow the service to view all orders bought and sold over a given time period or for the entire period of use of the exchange centre. It will also show financial information for specific time frames, as well as details for each order, such as route, cost of fare, and the specific rules for that order. There are also options for the company to adjust its settings for its participation in the scheme – the company may wish to set a maximum number of orders for acceptance over a given time period, or choose specific partners to exchange orders with. The exchange itself displays new orders with the parameters and requirements for each order, as well as recent transactions. Specific filters can be applied if a company wishes to accept a certain type of fare.