A London cab driver has become a pioneer of new technology, switching from cash and card payments to smartphone app payments only.
As part of a five-day trial, taxi driver Ian Cable will use Barclays’ Pingit app to receive payments for his services. In 2004, Ian Cable was the first taxi driver in London to accept chip and pin cards.
"I am very excited to take part in this trial. I have been a cabbie for many years and am always up for trying new technology to help make mine and my passengers' lives easier,” the taxi driver said.
"Not only is the app convenient for my passengers, because they don't need to worry about getting cash out, it means I have more time on the road to earn money - rather than stopping off at the bank to pay in my earnings or pulling up at ATMs for passengers with the risk of getting a hefty parking fine".
Launched in 2012, the Barclays Pingit app can be used by customers irrespective of whether they are Barclay’s clients or not. Smartphone users who have bank accounts with other banks can take advantage of the technology as well.
The app payment is made using the app’s inbuilt QR code reader to scan a unique code inside the taxi.
"We are always keen to support new ways to make people's lives easier,” said Darren Foulds, director of Barclays Mobile and Pingit at Barclays. ”This Pingit trial in a London black cab really demonstrates the huge potential for mobile payments as they gain more widespread use."
By 2020, 20 million adults are expected to be using their smartphones to pay for goods, the Centre for Economic and Business Research predicts.
Since its 2012 launch, the Barclays app has been used to transfer more than £500m.