CMT rolls out V2 taxi card payment system following major hardware upgrade
- Perry Richardson
- 2 hours ago
- 2 min read
CMT has begun rolling out its new V2 card payment system after completing a significant hardware upgrade, introducing a new generation of payment terminals for London taxi drivers.
The V2 platform replaces CMT’s existing payment technology and has been designed specifically for the London taxi market. The company said the system meets current Transport for London (TfL) and card-scheme compliance requirements, addressing long-standing concerns around ageing payment devices used in the black cab fleet.
The new terminals are built on an Android-based platform and feature a larger touchscreen interface, integrated directly with the taxi meter. CMT said the design aims to streamline the passenger payment process while improving system reliability and transaction speeds for drivers.
One of the key technical changes is the introduction of store-and-forward functionality, allowing card payments to be securely captured during temporary signal loss and processed automatically once connectivity is restored. This is intended to reduce failed or abandoned transactions in areas with poor mobile coverage.
New Android-based terminals are now being installed across London taxis, replacing legacy payment hardware
CMT said the V2 system is Payment Card Industry compliant through to 2032, giving it a longer compliance lifespan than some existing taxi payment devices, some of which are expected to fall out of compliance within the next year. PCI compliance has become an increasing focus for operators and drivers as card-scheme security standards tighten.
The company has also retained its daily settlement model, paying drivers seven days a week including weekends and Bank Holidays. Faster settlement and predictable cashflow have been cited by drivers as a top priority, particularly amid rising operating costs.
CMT said installations of the new V2 terminals are now underway, with further software updates planned over the coming months. The company operates as a dedicated taxi payment provider and works closely with TfL requirements for licensed vehicles.
