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Saturday 13 October 2012

A ride in a NYC “Square” cab

In New York City, there are currently 13,237 official taxicabs equipped with technology from either VeriFone or Creative Mobile Technologies to process credit card payments.

But over the past six months, riders may have seen something a little different in the back of taxicabs: An iPad you can swipe your credit card through, installed by the mobile payments start-up Square.

Update: Square has since pulled the plug on a pilot with New York taxi drivers so it can overhaul its iPad-based card payments system to meet new rules. See Finextra’s October 16 report on this development at http://www.finextra.com/News/Fullstory.aspx?newsitemid=24174