The Credit Crunch, Recession or, Depression, whatever the latest buzzword is, really started in our trade well before 1st January 2009. That’s when the corporate world stopped using their cab accounts on a regular basis. The corporate cab account holder now finds it more cost effective to hail a cab off the street and pay with a corporate credit card; this saves money on the run-In, waiting time and the radio circuit administration charge. The massive downturn in account work has led to great numbers of radio drivers leaving their circuits deciding the subscriptions do not justify the return on the account rides they are dispatched. One circuit in North London is reported to be losing drivers on a weekly basis. Even the increase in street hailed credit card rides costs the radio driver a cash booking fee, which can be up to £2 and the card holder an disproportionate charge, which could be up to 12 percent. Many more regular cash paying cab customers now prefer to use a Debit or Credit Card as a means of managing their money in these cash strapped times. Any driver without the means to except Credit or Debit cards risks losing lucrative trips and airport jobs and the possibility of a heavy fine for stopping at an ATM for the customer to collect cash.

123 SEND GPRS
I passionately believe that every licensed London taxi should be able to accept credit, debit and charge cards. We are competing against an organised professional Private Hire trade and we must take them on and beat them in this area as we do in every other aspect. This is the reason I have always marketed credit card terminals in our trade and I have always strived to get the best deal for drivers. There are many credit card machines on offer to the driver; some are free but the supplier keeps all of the 10 percent transaction charge, which is very lucrative to the supplier. Some suppliers pay your money in to your bank account, usually 6 or 7 days after the transaction minus the 10 percent charge, some suppliers charge an annual airtime charge of £25 then £13 per month and retain the 10 percent service charge.

I honestly believe that 123 SEND GPRS Mobile Card Payment Terminals are the best deals for drivers; you get to keep the 10 percent charge or minimum £2.50, which means one airport job, will give you at least another £5. The money is paid in to your account in 3 working days and unlike other suppliers your money is kept in a merchant account which means if the company goes belly up your money is safe and not the assets of the company. If you are thinking of leaving your radio circuit and want to keep on taking cards or a street fighter who wants increase your profits in these testing times then pop in and see me for a chat and advice. You can find me at the Porta-Cabin in Great Suffolk Street; if you don’t know me just ask for George.

George Vyse