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A Digital Taxi Fare Payment System Benefits The Industry And Economy

There is no real means of accurately reporting on the taxi industry to drive investment as there is a lack of visibility. Similarly, taxi associations and governments lack any real way to manage and govern the industry because of lack of business transparency.⠀

A digital payment system is able to address these issues in the informal taxi industry. The benefits of digitising include reducing the costs of cash management and the crime-related risks of holding cash. It allows stakeholders to understand the economy through market visibility which enables data collection, analysis and accurate reporting. This creates the opportunity for leveraging growth due to improved transparency and income traceability. Cashless payments also boost economic growth and reduce the production costs of physical currency to benefit the economy as a whole.⠀

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