Payment technology firm Verifone has expanded its taxi and car-for-hire electronic hailing (e-hail), payment and media business with the acquisition of Curb.
Alexandria, Virginia-based Curb, formerly Taxi Magic, connects people in approximately 60 US cities with rides from professional, insured, and fully-licensed taxi drivers.
Go deeper with GlobalData
Using Curb’s e-hail app, which allows riders to tap into Web and SMS text-based booking tools, passengers take more than 100,000 rides each month.
Curb’s media-enabled payment terminals are installed in approximately 15,000 cars. This adds to the approximately 40,000 taxis in the US that are already equipped with Verifone payment terminals.
Verifone said that this acquisition will enable it to enhance its e-hail and payment app business by using Curb’s technology and expansive driver network across the US.
Commenting on the deal, Verifone senior vice president for global taxi systems Amos Tamam said: "We are combining Curb’s booking technology set and geographic footprint with Verifone Taxi Systems’ global presence and expertise in secure payment, and cloud-based dispatch and fleet management tools.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"This will allow us to continue our push into the growing market for apps that provide riders with the convenience of connecting to professional vehicles and drivers through their mobile phone. We’re now even better equipped to offer convenient, dependable, and secure ride booking tools for the taxi operators, drivers and passengers that, for our 2015 fiscal year, will have participated in more than 180 million trips in Verifone-equipped taxis in the US."
Financial terms of the deal were not disclosed.
