Hong Kong fintech player aims to end cash-only taxis with payment platform accepting Visa, Mastercard, Alipay, UnionPay
- Wonder, a subsidiary of Bindo Labs, is determined to put its system into 10,000 taxis in a year’s time
- The system enables electronic payments without the need to install an app, but incurs a 3.5 per cent service fee
A Hong Kong fintech platform is hoping to shake up the taxi industry and boost convenience for residents and visitors by bringing contactless payments to the city’s predominantly cash-only fleet.
Wonder, billed as Hong Kong’s first fully digital all-in-one payment platform, will allow drivers to accept multiple forms of payment and let customers pay for taxi fares using their phones.
“Wonder works more like a consolidated payment gateway that allows the merchant to accept payment from all different payment means,” founder Jason Ngan said in an interview with the Post at Hong Kong’s Fintech Week.
Wonder first began working on the idea in late 2022 and had launched the technology in 100 taxis by October 30 this year. The company aims to have the service in more than 1,000 taxis in the next three months and is determined to reach 10,000 taxis in a year’s time.
Government statistics show that there are 18,163 taxis in Hong Kong: 15,250 urban taxis, 2,838 New Territories taxis and 75 Lantau taxis.