What is the future of the taxi industry?

The top of a taxi

When was the last time you rang a cab company to book a taxi? Or, the last time you got into a cab at a taxi rank? It was probably a while ago, wasn’t it? It’s probably due to multiple reasons – maybe you have a car or maybe you’ve downloaded Uber? Thanks to advances in technology and taxi apps surfacing, the taxi industry has changed drastically. If you compare your current phone to the phone you had 10 years ago, you’ll quickly realise how much things have changed. We’ve gone from flip phones to smartphones that have our entire identity on them.s

Advanced technology

The world is becoming more digital as the days go on and the scariest things is that we don’t even realise it. Many of us having banking on our phones and can video chat our friends and family who are on the other side of the world for free. It’s amazing how much we can do but also scary that we trust ourselves to put all our personal information into a handheld device. How does this affect the taxi industry? Well, traditional cab firms have always relied on getting business from local people calling them or walking into their office. They also always received cash payments and haven’t accepted cards (some places did over the phone for fares such as airport journeys).

Book online and pay by card

However, the online market has spotted the flaws with this and are now offering consumers convenience such as booking online and paying by debit card. Cab firms need to be investing in apps and accepting card payments in order to avoid losing business. When was the last time you took cash out and used it to pay for a cab? It’s becoming increasingly rare for people to carry cash on them. Firstly because it is safer and secondly it is easier to use one debit card or credit card for all payments. Finding cash points are time consuming and inconvenient for most people and there’s always a chance that it won’t be working. So, using your card or phone to pay for things is quicker and safer. It also allows you to track your spending.

A lot of competition

When you consider the above it’s easy to see why there’s more competition within the taxi industry. The future of the taxi industry is digital whether we like it or not and cab firms need to be investing in digitalisation while they can. A prime example of a successful online taxi app is Uber. You can use it globally and order a cab immediately by tapping one button. It also reassures customers as all Uber drivers are rated by other customers and you can even let your friends and family follow your journey, so they know you’re safe. Another convenient thing about Uber is that it gives you an immediate quote for how much your fare will cost. It’s also linked to your bank account and allows you to pay without thinking about it.

When these things are considered it’s easy to see that the future of the taxi industry is digital. We highly recommend that we support local businesses where possible. Think that local businesses invest in a digital footprint by offering Uber-like apps.

Is your MOT nearly due? Maybe your car is in need of a service? Whatever the case may be, why not book online with us today?