The citizens of Malaysia are now able to pay for taxi in bitcoin. The first Asian taxi-booking service, called Taximonger, became available in Kuala Lumpur, Seremban and Johor Bahru.
The new app is the first cashless payment system for cabs in Malaysia that will be used by passengers and over 1,400 drivers. The service is available for iOS, Web and Android. Besides, the customers can book the taxi via the website.
In order to make a payment in digital currency, you just have to send the bitcoins to the app, which then will be converted to Malaysian ringgit. After logging in, the app automatically identifies your location.
Then you have to enter the address, select between two categories, Executive and Budget, and wait for the driver’s response. The passenger than receives an SMS with all the booking details.
Taximonger payment processor was created by Arsyan Ismail and other developers from BitRinggit. Ismail has also developed a Malaysian brokerage exchange and Cryptomarket Malaysia, the small establishment for buying and selling cryptocurrency-related things.
Since the creation of bitcoin, a lot of taxi drivers have already adopted the digital currency due to its benefits. The payment method eliminates the need for special hardware for cards reading and no fees in addition to payment processor’s charges. Moreover, it offers additional security for taxi drivers, as there is a high risk of robberies in taxi cabs.
In the near future, the bitcoin will be extended to other ‘white label’ apps from Taximonger in Malaysia, CAB2klia and JohorCab.
Multiple cab drivers and taxi companies have experimented with bitcoin. Earlier, Hailo taxi app announced its plans to integrate the digital currency.
According to the company, the bitcoin integration would help some drivers avoid remittance fees when sending their money to family or friends abroad. However, the company did not give any details concerning the exact dates of the launch.
Today, New York taxi drivers can freely accept digital currency payments if they prefer to.
Taximonger expects the new service will improve the payment experiment of bitcoin users and contribute to the promotion of digital currency in Malaysia.