The Bitcoin is spreading to new industries at a more rapid rate than ever, thanks to the many mobile applications and payment gateway suppliers available on the market at the moment. Now taxi drivers in Kuala Lumpur and Johor Bahru in Malaysia can accept Bitcoin payments for the trips they do, thanks to Taximonger.
The new system provides a new way for customers to pay and for taxi drivers to target new audiences. Customers can pay with Bitcoin by sending the Bitcoins to the address given to them by the driver, where the money is then converted into Malaysian Ringgit on a daily basis to ensure that the drivers do not lose any value in conversions.
This provides an easy cash free solution for taxi drivers and provides a cheaper way of accepting payments than traditional credit cards. Furthermore the taxi's do not need any expensive equipment to accept Bitcoins, unlike the traditional payment methods, so overall a great solution for them.
We might see a boom in taxi companies accepting Bitcoins around the world with this integration, as many smaller companies might see a way to save some fees and make their trips more secure.