Two major taxi alliances in the city are partnering with mobile wallet provider TNG to equip 2,000 of their taxis with electronic payment facilities, the Hong Kong Economic Journal reported Tuesday.
The e-payment firm is planning to give out HK$100 (US$12.90) to each of the first 2,000 taxi drivers it registers and HK$1 for each transaction in an effort to entice them to use its services, chief executive Alex Kong said.
Taxi drivers have to put up a personal quick response code that a passenger can use to transfer the fare instantly by scanning the code with his or her TNG mobile wallet and entering the amount of the fare and a personal transaction password.
The transfer can be done using a smartphone, which reduces the operating cost to taxi drivers, the report said.
The launch of the new service is expected to heat up the competition in the e-payment market.
MTR Corp. Ltd. (00066.HK) debuted a peer-to-peer payment service using its Octopus card last week.
TNG worked with CEC International Holdings Ltd. (00759.HK) when it first launched its services last year, pouring in a total of HK$20 million to match the amounts users added to their e-wallets.
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