This is what competition does and why anti-trust laws are so important.
Insiders of the city’s taxi industry are finally launching an app that lets users hail cabs and pay for rides using a smartphone. It’s such a great idea you have to wonder what took so long.
The app is called Arro and, as first reported by Crain’s, it’s in beta testing with 7,000 New York City cabs and could launch within weeks. Here’s how it works: A user launches the app, which gives a nearby cabbie the passenger’s name, pickup address, and cross street. The user, meanwhile, gets the driver’s name and ID number. The app saves credit card info, letting passengers pay the metered fare and tip automatically. Another advantage is no surge pricing; the app developers told Crain’s that fares always will be meter-based.