TAXI-NOW: New London taxi hailing app hits the market with staggeringly low 1% driver fees

A new black taxi app has hit the market in the capital looking to win over cabbies and passengers with a staggeringly low commission fee.

The taxi hailing app called Taxi-Now was released before Christmas on 1 December to licensed taxi drivers in London.

According to Taxi-Now the app has been developed with the focus heavily on operating at the lowest possible commission rates for cabbies. The app currently charges drivers just 1% commission on fares generated through the app.

The app’s creators said the 1% fee ‘keeps the app running’ and will also be used to advertise Taxi-Now to a wider audience.

In comparison to the main players currently offering black cab ride-hailing services fees are currently set between 15-20%. There will however be a payment processing fee added to each Taxi-Now journey, which is usually included in competitors' fees.

A Taxi-Now spokesperson said: “With the direction that the other apps are going in we felt that the trade needed a commission-based app which can house Green Badge and Yellow Badge drivers whilst making sure that the licensing areas are geo-fenced.

“We don’t have the backing of the big apps, but we aren’t looking for investment. We are also in the process of creating a co-operative for Taxi-Now. As there are no subscriptions every member that signs up will be a life-long member of the app so we can always protect our future.”