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| Live Payments, a member of the Live Group of companies, today announced the launch of the first real competitor to the Australian dominant provider in Cabcharge. With ACCC action currently pending against Cabcharge, this is the first real competitive pressure mounted on the taxi charge card market and for the first time in 33 years corporate of all sizes and governments at all levels have a viable alternative. |
Live Payments, a member of the Live Group of companies, today announced the launch of the first real competitor to the Australian dominant provider in Cabcharge. With ACCC action currently pending against Cabcharge, this is the first real competitive pressure mounted on the taxi charge card market and for the first time in 33 years corporate of all sizes and governments at all levels have a viable alternative.
Live Payments has partnered with Motorpass, owned by Retail Decisions, to deliver a co-branded card solution that brings real change in the industry. Live Payments has been searching for a solution partner for over 2 years both internationally and locally and found Motorpass to be the right fit.
With the existing infrastructure to run a co-branded card and a willingness to work in an agile and solution focused manner, Live Payments has been able to deliver the solution to the market in a very timely manner. Existing partner SmartPay Cadmus also played a key role in the development of terminal software and hosting requirements, proving that agile entrepreneurial companies working together can deliver a superior product in a very short time.
“The new solution means that we can leverage the Motorpass brand and usability with the experience and systems that Live Payments has developed” said Tom Varga, CEO of Live Group.
But the new card solution represents so much more than a competitor to the Cabcharge monopoly. Tom Varga said “We see a state of the art back office management system delivered to the market that makes reconciliation easy and fast. In fact existing customers talk about 80% time savings. Add to this the ability to manage each trip, add trip details after the fact and have each user responsible for their own travel, the new system delivers accountability and transparency that corporate and governments have been craving”.
The ACCC has been seeking competition in this space for some time and have instigated action against Cabcharge that goes to court in October 2010. Live Group has already been winning market share in the EFTPOS terminal market with its Live TaxiEpay business according to analyst reports published recently. Both Macquarie Bank and Goldman Sachs JBWere estimate a market share of between 16-18% as of June, with July expected to show further growth.
The addition of a taxi charge card to the EFTPOS terminals brings a holistic alternative to Cabcharge. Tom Varga said “If early indications are anything to go by it looks like the taxi landscape has changed forever”.
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Live Group
The Live Group is a transaction processing business currently specifically servicing Australian taxi drivers / operators and corporate customers. The Live Group of companies currently includes the Live Payments and Live TaxiEpay brands.
Live Payments
Live Payments, provides a unique corporate taxi payments solution and online reconciliation portal that assists corporate users in tracking their taxi expenditure. With two distinct payments products in the charge card and voucher, Live Payments delivers a complete taxi payments solution to meet the needs of every corporate user and more rewards for drivers and operators.
Live TaxiEpay
Live Group’s other subsidiary, Live TaxiEpay, is a wholly owned subsidiary of the Live Group specifically involved in supplying EFTPOS terminals and additional value-added services to the Australian taxi industry. Live TaxiEpay was created through the merger of TaxiEpay and Live Payments in November 2008. Since then, sites have been opened in Sydney, Brisbane and now Perth, with dealers and distributors located around the country. Live TaxiEpay delivers 2 types of terminal to the market in the handheld (mobile) terminal and in-car (fixed) terminal.
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