New York cabbies to take on Uber with their own app

Cabbies in New York are about to take on Uber at their own game, by launching their own app to compete with the minicab giant.

Waave will use various pieces of information, such as route, traffic flow and time of day to give customers a set price.

Previously, taxis could only work to the metered fare under Taxi and Limousine Commission rules, however, a ruling passed in March, has allowed taxi drivers to use apps that operate flexible fares.

The app was launched last Thursday, with rides being available within a week or two. A fee will be applied to the driver, although that is presently undisclosed.

It is believed that New Yorks cabbies have suffered around a 30% loss in income, and has so far caused six drivers to take their own lives.

New Yorks cabbies will still be able to accept street hails and run fares according to what the meter shows.

There are no figures available as yet as to how many drivers have signed up to use Waave.