Debated in Parliament on 8 Sep 2014.
Mr Ang Hin Kee asked the Minister for Transport whether the Ministry will consider leveraging on technology and working with technology solutions providers and taxi operators to expand the number of payment transaction options such as mobile payment and Near Field Communications payment for taxi commuters given concerns such as the discontinuation of Visa credit card payment, fees involved in purchasing and maintaining payment terminals and systems as well as transaction surcharges.
Dr Janil Puthucheary asked the Minister for Transport (a) what percentage of taxi passengers use NETS for their taxi fare transactions; (b) what is the average turnaround time for NETS and the taxi companies to credit the taxi drivers the amount earned for the day; (c) whether there were any delays in the crediting process over the last year; and (d) whether there can be a shorter turnaround time for the transfers to be done so that taxi drivers do not have to wait to receive their day's earnings.
Several taxi companies already offer a variety of payment options, including new cashless payment options, such as mobile payment and Near Field Communications payment. We will continue to encourage the taxi companies to do more.
Currently, cashless transactions, such as NETS, form about 10% of all taxi fare transactions. Taxi companies take one to three working days to credit the amount earned through NETS into their drivers' bank accounts.
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