Didi Chuxing to accept cashless payments in Hong Kong cabs for first time
The Chinese ride-hailing giant will now allow passengers to pay their fare by Visa, Mastercard or American Express on its mobile app
Hong Kong’s taxi drivers have frequently faced criticism for their refusal to move with the times and fully embrace electronic payments as an alternative to cash.
That has not stopped some of the biggest players in the mobile payments game trying to capture market share in the hope that one day more customers will be reaching for their smartphones instead of their wallets to settle their cab fares.
Ctrip the latest challenger in China’s ride-hailing market
The move intensifies competition between e-payment providers to persuade taxi passengers – and drivers – to make the move away from cash.
The international credit card companies are up against Chinese mobile payment platforms Alipay and WeChat Pay vying to sign up local cabbies. Octopus, Hong Kong’s dominant stored-value contactless payment system, is also trying to capture a share of the increasingly crowded market.
Meet the used car dealer who sold 1 million vehicles to China’s ride hailing giant Didi
The advantage of mobile payment over cash for both customers and drivers is obvious, according to Caroline Ada, Visa’s country manager for Hong Kong and Macau.
“[With cash] time is wasted as both passengers and taxi drivers need to wait for change,” she said at a press conference announcing Visa’s tie-up with Didi on Wednesday.