The Powered by Modulr series celebrates the innovative ways our customers use our infrastructure in their mission to build the Instant Economy.
DriversPay is a FinTech software provider that offers automated driver payment systems for taxi companies. Powered by Modulr’s payment infrastructure, DriversPay is on a mission to save costs, time and stress for taxi depot owners.
How DriversPay is set to transform the taxi industry
Built in the UK, DriversPay is an innovative automated payment kiosk and mobile app designed specifically for the taxi industry. It allows taxi drivers to easily pay the rent or fees they owe on vehicles. Drivers can make payments 24/7, all year round.
The experience is easy and intuitive for taxi drivers. They simply go to a DriversPay kiosk and log in with the same details they use for their dispatch system. Full details of all credits and debits are displayed, along with any balance owed. The driver pays by cash, card or app.
For taxi depot owners, there are a range of benefits – less time and money spent on payments admin, reduced cash leakage in the office, and no spent time chasing late driver payments. And balances are calculated automatically, so there’s no risk of error from manually entering details.
Taxi depot owners can also log into Fusion software via their tablet or PC and view which drivers have logged into DriversPay and when, and how much money has been taken or paid.
DriversPay software integrates with taxi operators existing software systems and offers a cost-effective alternative to other options on the market.
Overcoming challenges to get an innovative product to market
Prior to working with Modulr, DriversPay was using several other third-party payment providers. But it had encountered challenges during the development and launch of its core product.
For example, there were significant upfront build costs to get the kiosks up and running. And DriversPay had to adjust its price point after the first release to meet market demands. There was also the complexity of machine engineering and integration with multiple platforms to master.
Having overcome these initial hurdles, DriversPay is now working with Modulr to provide a seamless payment experience to its customers and their end-users. Modulr’s 24/7 payments infrastructure will enable DriversPay to meet the growing demand for alternative ways to process payments in the taxi sector.
The partnership will also help DriversPay to scale sustainably and pursue ambitious long-term objectives, such as taking advantage of the latest open banking payment innovations and expanding into the EU payments market and USA market.
