The technology firm has developed a payment terminal which is compatible with contactless-enabled bank cards and standard debit and credit cards, allowing consumers to pay for their fares without the need for cash.
"This is a total payment and media solution that enables black cab operators to enhance the customer experience with card payment options," said Shaun Burger, VeriFone vice president general manager, Northern Europe, Middle East and Africa.
"We know what it takes to make card payments succeed in challenging environments."
VeriFone has already introduced similar systems in various countries across the world, including Turkey, South Africa and the US. In New York City, VeriFone's taxi payment system is now used in half of the city's taxis.