Company: Flywheel Software
by Kia Kokalitcheva
The California tech company wants to replace it all with just a smartphone.
Soon enough, New York City taxis will have a new alternative to the taximeters and credit card processors installed in their cars.
On Thursday, Redwood City, Calif.-based Flywheel said it has been granted a license by the Taxi and Limousine Commission to market its alternative to the devices they’ve been using for the last several years. Flywheel has developed software for taxi fleets that includes a smartphone app that acts as a taximeter and GPS navigator, and lets drivers process credit card payments with a car reader attached to the smartphone.
“For over a decade, this industry has been locked out of any innovation,” Flywheel president and COO Oneal Bhambani told Fortune in an interview.