Saturday, September 20, 2014
Friday, September 19, 2014
Visa To Stop Processing Credit Cards, Over Smart Phone Apps From End Of September: Chip And Pin Only.
This is a bit of a disaster.
I assume Cab:app aren't being similarly sanctioned by Visa?
Fast Pay is Going - but 'Pay-with-Hailo' is coming shortly - and Chip and Pin
Due to legal action from VISA and other credit card companies, we unfortunately have to retire the fast-pay feature of the app at the end of August. Fast Pay will continue to work on the brand new driver app until the 27th of August.
VISA have deemed these street-card transactions as high-risk and are no longer willing to offer a processing service using this method.
We understand this was a hugely useful feature for many drivers - so we are delighted to announce a brand new innovative feature that we call 'Pay-with-Hailo'. We will be sending more information about Pay-with-Hailo next week but in summary:
Pay-with-Hailo will allow customers who wish to pay for a journey on their card to 'check-in' to a Hailo taxi and pay using the card on their Hailo account. This will be extremely useful for regular customers and new customers alike.
Drivers will pay zero commission on 'Pay-with-Hailo' jobs.
In addition to this, Hailo has secured a highly competitive rate for our drivers for chip-and-pin devices. We'll announce more details shortly on this but if you are interested in purchasing one - please register your interest here.
Eco City Vehicles, the firm behind the Mercedes Vito London black cab, today saw its shares suspended as it stood on the verge of collapse just two years after rival TX4-designer Manganese Bronze did the same.
But now its future looks bleak after Eco City admitted its subsidiary One80, which owns the intellectual property to the crucial steering technology that adapts the Vitos to comply with London taxis’ strict turning circle rules, looks set to collapse into administration.
With no more Vitos at present being built after a lack of sales led to a pile-up of stock, Eco City admitted One80 cannot survive because of a “lack of production revenues” as well as an impending legal case against its 76.6% subsidiary by one of its licence holders.
“The group continues to experience challenging trading conditions requiring Eco City Vehicles to seek additional funding,” the firm said.
It added it was in talks with a potential backer but warned those negotiations “may or may not lead to additional funds”.
That uncertainty saw Eco City suspend its shares — which have plummeted by more than 80% in 2014 — at 0.3p “pending further evaluation of its position and future structure”.
Eco City only has one person left on the firm’s executive team, finance director Jonathan Moritz, who did not return telephone calls today.
In August, Eco City blamed San Francisco cab-booking app, Uber, for slaying London’s iconic taxis trade. It said that its collapse in revenues — which were down by a third in the six months of July — were “mainly due to the emergence of Uber”. But the Vito is also facing challenges from new taxis from Metrocab, which is making an electric cab, and Nissan.
Eco City’s struggles follow Maganese Bronze’s collapse in 2012, just two months after the Spice Girls sang and danced on top of five of its cabs in the closing ceremony of the Olympic Games. The firm was later bought by China’s Geely, for £11 million, and restarted production.
19 September 2014
Eco City Vehicles PLC
("ECV" or "the Group")
Share Suspension and Trading Update
Eco City Vehicles PLC ("ECV"), the sole distributor of the licensed Mercedes Vito taxi, provides the following update regarding One80 Limited ("One80").
One80 is the Group's 76.6% subsidiary, which owns the intellectual property rights to the rear wheel steer technology and other design rights used on the Mercedes Vito taxi.
In September 2012 ECV acquired the benefit of a short term loan made to One80 by Cabvision Network Limited. This loan has now been repaid and the security over One80 assets has been satisfied.
As previously announced on 12 August production of Mercedes Vito taxis remains on hold owing to existing stock levels of completed vehicles.
With a lack of production revenues and, also previously announced the impending legal case against One80 by the non-exclusive licence holder the directors of One80 have notified its shareholders of its intention to appoint an administrator for One80.
As previously announced the Group continues to experience challenging trading conditions requiring ECV to seek additional funding. ECV is in negotiation with a potential funder that may or may not lead to additional funds.
With the potential administration of One80 and the resulting contractual frustrations encountered with third parties in executing disposals under the Group's strategic review, together with the continuing challenging trading conditions there is uncertainty as to the Group's financial position and prospects, as a consequence, ECV has requested a suspension of its shares pending further evaluation of its position and future structure.
Eco City Vehicles plc
John Swingewood, Chairman
Jonathan Moritz, Finance Director
Numis Securities Limited
Stuart Skinner (Nominated Adviser)
David Poutney (Corporate Broker)
Neil Thapar, Sam MacAuslan
Thursday, September 18, 2014
Wednesday, September 17, 2014
Tuesday, September 16, 2014
Well let's give them the message that yes we are definitely being protectionist and spell out loud and clear what we are protecting.
We are protecting:
3. The public, from the riff raff that seeks to put them in danger such as the unsafe Pedicab, the unlicensed tout and the uninsured PH driver who touts a job or takes a virtual hail from an app.
Of course you will get the multi national vampires stating its free trade and that's good.
Well experience has shown (utilities, banks, supermarkets etc.) that it is not, as soon as these people have 'market dominance' they squeeze every penny out of the consumer and kill any new competition.
The vulnerability of the late night passenger and those who need the special facilities of a purpose designed cab prove that they and the cab trade need both regulation and protection.
Throwing us and therefore them to the wolves of corporate greed who are beyond the reach of the regulatory and taxation authorities is reckless.
If these raiders were offering cut price unregulated legal services, accountancy or any other so called 'professional services', you can be sure the 'great and the good' would move swiftly to stamp it out!
How then do we best protect ourselves?
There has been a lot of moves by many to bring all the cab trade together to speak as one, that seems doomed to failure as small minded parochial self interest rules at present.
We have a workable alternative, in that we rebuild a version of the old London taxi board where all (and it must be all) those who represent the trade (drivers unions and local associations and fleet owners come together), the others such as circuits, schools, manufacturers etc. can contribute but we need to tread carefully and set rules about conflicts of interest and have a good leadership.
Protectionism is good for you!
Since 1996 the Audit Commission has run the National Fraud Initiative (NFI), an exercise that matches electronic data within and between audited bodies to prevent and detect fraud. This includes police authorities, local probation boards and fire and rescue authorities as well as local councils. Further information about the NFI is available on the Audit Commission’s website at www.audit-commission.gov.uk/nfi.
As part of the 2014/2015 NFI data matching exercise Transport for London (TfL) is required by law to release information about licensed taxi and private hire vehicle drivers to the Audit Commission and in October 2014 TfL we will be providing the Audit Commission with the name, address, date of birth and National Insurance number (if available) of every licensed taxi and PHV driver.
Data matching involves comparing computer records held by one body
against other computer records held by the same or another body to see how far they match. This is usually personal information. Computerised data matching allows potentially fraudulent claims and payments to be identified. Where a match is found it indicates that there is an inconsistency which requires further investigation. No assumption can be made as to whether there is fraud, error or other explanation until an investigation is carried out.
The use of data by the Audit Commission in a data matching exercise is
carried out with statutory authority under its powers in Part 2A of the Audit
Commission Act 1998. It does not require the consent of the individuals
concerned under the Data Protection Act 1998. Data matching by the Audit Commission is subject to a Code of Practice which can be found at:
Further information on the Audit Commission’s legal powers and the
reasons why it matches particular information can be found on the Audit Commission’s website at www.audit-commission.gov.uk/fairprocessing.
TfL considers the security of data as very important and will ensure that the data is transferred securely to the Audit Commission.
General Manager, Taxi and Private Hire
15 September 2014