Monday, 07 September 2015 12:43

GoCatch mints new payments partnership

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GoCatch and Mint Payments have announced a new payment partnership pilot in a move that has been a long time coming given competitor Ingogo’s mobile payments power.

GoCatch is my favourite taxi app, more so than Uber, Ingogo or mTaxi, with GoCatch getting the interface right, the ability to use any payment method and the ability for drivers and customers to proactively contact each other once a booking has been electronically accepted.

That’s in my estimation, at least, but there has always been one part of the puzzle missing - physical payment terminals, even though the GoCatch app wants you to enter your credit or debit card so payments can be debited that way.

Both companies say the initial pilot ‘will target part of goCatch’s base of 35,000 registered taxi drivers (representing over half of the national total) and both companies will look to strategically work with each other, paving the way for a broader rollout following the conclusion of the one month pilot.’

Mint Payments’ mPOS terminals will initially be provided to a ‘pilot group of goCatch taxi drivers in Sydney in a bid to build out new revenue channels for both businesses. It will be the first time goCatch will be targeting the processing of card present transactions via an in-cab payments terminal.’

It’s an important move given GoCatch’s main competitor, Ingogo, allows taxi drivers to capture a small commission from each credit or debit card payment, something GoCatch wasn’t previously offering.

CEO of goCatch, Ned Moorfield, noted the pilot ‘addressed a huge slice of the taxi market that was currently not being served’ by the GoCatch app, and specifically stated: “Roughly half of all taxi jobs in Australia are hailed from the street or taxi rank, representing a big opportunity for goCatch to monetise payments for these journeys.

“Rolling out mobile payment terminals enables us to capture some of that revenue while at the same time providing our drivers with a superior payments solution in their taxis.

“We know that more fares are being booked through goCatch but this pilot with Mint has the potential to develop into a new revenue line for us.” mPOS is a pocket-sized card reader that uses the taxi driver’s smartphone or tablet as the EFTPOS machine.

Naturally, it supports all of the major cards, tap-and-go technology, chip and PIN- based debit and credit card payments, and we’re told that, ‘unlike many other systems in this space, it can be self-installed’.

If the pilot is successful, which it should be, GoCatch says it expects ‘a broader future rollout of the Mint payments terminal to goCatch drivers will see a deeper integration of Mint’s mobile payments solution into the goCatch driver app, further streamlining the payments experience.’

Moorfield added: “We chose to partner with Mint Payments because of their outstanding track record in innovation and the company’s commitment to using cutting edge technology for superior payments solutions. We believe that the combination of goCatch’s bookings app and Mint’s payments terminal will be far ahead of any competing offering in the market.”

Alex Teoh, CEO of Mint Payments said: “goCatch has a significant base of 35,000 taxi drivers and a phenomenally high rate of completed bookings. We often look to partner with market leaders in each vertical segment, and with organisations that have a particular focus on their end-customer.

“We are extremely pleased to be partnering with goCatch as a market leader in the app based taxi booking segment and look forward to building out the opportunity for both businesses to grow additional revenue streams through a broader roll out of an integrated payments solution with goCatch’s driver app,” Teoh concluded.

As noted with Ingogo’s system that allows drivers to earn a commission from payments processed through the terminals, so too will the GoCatch and Mint Payments system do likewise.

However, drivers will also be credited ten ‘goPoints’ for every dollar they put through the terminal to increase their driver status, which is important because high status drivers get the first chance to bid on the more lucrative jobs. 

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