VeriFone Wins D.C. Cab Contract

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VeriFone (PAY) announced Wednesday that it's working with Washington D.C. cabs to place payments systems in 6,500 back seats.

The San Jose terminal maker said it won a competitive five-year contract that is worth between $35 million and $45 million. The project is called the Taxicab Smart Meter System.

As a part of the deal, VeriFone said it is providing the District of Columbia Taxicab Commission with GPS location services and automated trip reporting, as well as 10-inch tablets that will display multimedia programing and advertising.

"This presents a rare opportunity to significantly enhance the driving experience of District citizens and visitors while improving operations for drivers," said Mayor Vincent C. Gray, in a press release.

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