SYDNEY, Australia -- MasterCard International has launched a payment system in taxis here that enables customers to pay for fares via a mobile-radio network that processes online debit and credit transactions.

The system offers customers two new choices for payment: MasterCard credit cards and Maestro debit cards. The driver swipes the card through a terminal on the cab's dashboard.

An initial pilot of 230 taxis in the metropolitan Sydney area will process on-line debit and credit transactions, and the participating taxi fleet anticipates about a 20% increase in business because of the additional payment options.

MasterCard expects to add 6,000 taxis to the network over the next 12 months.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.