Tech Upgrades Make Hailing Cabs Easier Than Paying For Them

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Tech Upgrades Make Hailing Cabs Easier Than Paying For Them

CFO Tech Outlook | Thursday, September 19, 2019

Technology has simplified the customer’s travel and transit woes, but has it complicated the payment processes by not upgrading the systems? This issue can be solved with much more attention to payment methods.

FREMONT, CA: The online rides booking applications have fundamentally transformed transit. The user needs to log in to the app and request a ride, and within a few minutes, the user is picked up by the driver and en route to the destination entered. The experience in the cab is reported as ratings and feedback with quick payment handled through the mobile device. 

People rarely consider the smart technologies that power the whole cab-hailing experience. The users do not talk about the application’s tech stack. The technology has become an old acquaintance and isn’t magic anymore for the user booking a cab online. 

Consumers at present without thinking twice, expect the transport to be effortless and always on standby whenever necessary. The service is expected to know where the customer is placed and where the user is heading. Similarly, payments also happen immediately online—the whole process is expected to be almost subliminal, instantaneous, and automated. 

But, sometimes the on-demand payments fulfilled on mobile devices can be fiddly, and it is this area where many business slip-ups occur. A major hitch in the process is the times the payment processing takes to complete the transaction. It is a vital aspect because the customers are in a hurry to climb on and get off the cab, more often than not, are frustrated. 

Where do payments go wrong? 

Recent research indicates that every one customer out of six have abandoned the usage of mobile payment through the application as it is too slow. Although there numerable factors that affect the processing time for each online transaction during the checkout experience, the un-updated display issues are the primary contributor. Other ergonomic reasons such as small screens, fiddly fingers, and irresponsive touch screens comprise a small portion. In actuality, the reason for lagging of the payment procedure is mainly because the technology has moved forward in all other avenues except payment systems. 

Keeping up with the competition:

The customers canceling on orders are a sign of competition in the transit industry. To make sure the payment systems are catching up with the technology used for booking cabs, many multi-national transport solution providers are dispatching newer methods for payments. Mostly, thru its apps and is avoiding the redirection to third party payment portals. Some major corporations have tied up and partnered with the payment solution providers for in-app processing services. To provide a seamless and swift transit from one place to another, minimum effort is required. But, to do the same for payment systems, its construction needs to be designed with a mobile-first approach. The build should contain a simple layout displayed in one screen without any rage reflections and should incorporate multiple payment methods for the users to select the most comfortable option. 

The most crucial of the design is to have a simplified checkout screen for quick processing. Ina competitive industry like the transit, the payments screen does not need any distractions to delay the process and let the company down. 

Times transform everything: 

With operations in the transportation field, the companies understand the fact that moving forward is necessary. Considering an example from the rail industry, it can be noted that paper tickets are on their way out with rail tickets mostly being e-tickets. Similarly, the companies in the transport business need to allow the passengers to utilize mobile devices and smart cards across all transits, even in rail network as soon as possible. 

The rail industry has adopted modern payments systems successfully. The sector has options including the users to book tickets via mobiles with multiple train booking providers using an electronic POS solution. When it comes to the concerns of purchasing a ticket, the customer experience should enable the consumers to buy the tickets with ease in an efficient manner. Upgrades in customer experience and payments systems need a revamp, especially in the final leg of the transit. Companies need to provide more attention to the details and assist in catching up the payment methods utilized at present.

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