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TaxiApp make statement over Paypal Uber investment

29 Apr 2019

 

Last week it was revealed that Paypal had invested around $500m in Uber, giving Uber a financial boost as it goes into its public listing. This investment has however impacted on TaxiApp in London. 

 

TaxiApp, give their drivers the option of installing and using the Paypal credit card system in the rear of the cab, at a preferrential rate, provided that drivers are signed up on their taxi app. 

However, TaxiApp, the driver-led app, which does not accept corporate financing, instead relying on driver investment, have indirectly been put in an awkward position because of Paypals link with Uber.

 

As a result a spokesperson for TaxiApp released the following statement, saying:


"The world of Card Clearance is complex and involves many players that have inter-arrangements; none of which we have any control over. We have limited choice as to whom which we can secure a best deal with.

Considerable efforts and expense have been made to ensure our platform is compatible with PayPal. We have a significant number of drivers on PayPal’s system and have an existing obligation to them. It would take a major reinvestment to integrate a replacement, which would increase costs to Taxiapp and its Drivers.

Taxiapp believes that through its arrangement with PayPal it has secured the best deal available for our drivers. Were drivers to look around within our industry, they will find many complex relationships that may constitute a conflict of interest. This is as much to do with the fact that even though they may have a singular arrangement with one entity, it may not exclude them from an extended relationship elsewhere."

 

The spokesperson went in to say: "The finance group that drivers may bank with, have pension investments with, or whose credit card they use is most likely to have direct, or indirect financial interests in Uber. Perhaps the least ambiguous relationship is that between Geely and Uber, whereby Uber have a $300m deal that together they will develop autonomous vehicles.

Are we to expect every TXe or TX4 driver to hand their keys in because huge corporations have made business decisions that we drivers have no control over. Do we boycott anything that has a feint whiff of collusion with our competitors? Should British Airways boycott Boeing or Airbus because a rival airline buys the same product, to which end they will only manage to cut off their nose to spite their face?

Taxiapp regards its arrangement with PayPal as one of Merchant Services provider and customer; an arrangement that has secured a very favourable deal for its drivers, that together with our app offers a 0% commission on all Taxiapp jobs, that in turn provides a compelling alternative to the other apps."

 

Image Source: TaxiPoint
 

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