Question Time January 2012

RTG Chairman & CEO, Geoffrey Riesel answers the editors questions

Ed: How is the roll out of the new chip and pin equipment going?

GR:
The equipment has had approval or accreditation by both the Banks (PCI compliance) and by TPH (Taxi and Private Hire, formerly the PCO) So we will now start to the roll out; the equipment comprises of the new Zeus touch screen mobile data terminal and the VeriFone EMV chip and pin technology in the back of the cab. It also takes into account the fitting of the new logo which has been agreed for the coming year and which has been approved along with and as a part of the new equipment and as part of our overall deal.

Ed: Have you met with any driver resistance?

GR:
I’d say that reports from Station Road indicate that nine out of ten drivers are positive, keen and looking forward to the new equipment and recognise that rear compartment chip and pin is the most positive thing that can happen in our industry. It would seem that they can see the possibilities of all those potential riders who don’t risk travelling by taxi now, because of a concern of not having enough cash. Which is exactly why; in the USA, where cities having embraced this system, they have grown their businesses by as much as between 25% & 33%; winning back work from Limo’s, or our equivalent of Private Hire.

GR: However, yes at Station Rd, a very few drivers have come up with different excuses why they don’t want it, well they can be pushed to the back of the queue for fitting for now, but in the end everyone on the circuit will in due course have to have the equipment fitted. No alternatives, no excuses. Sorry but there you are. Every driver who pretends his credit card machine isn’t working, because he wants cash, is damaging the taxi trade and pushing work into mini cabs. Every driver who says I don’t want to do credit card work at the weekend is damaging Radio Taxis/the trade and pushing work into mini cabs. And frankly it’s only a matter of time before have a working, rear compartment fitted chip and pin machine becomes a mandatory part of driving a cab condition of fitness as it has in other cities across the world.

Ed: Why do you say that is so?

GR:
Imagine you go with your wife, for example, to Tesco’s; and on some days when you get there they say – sorry you have to pay by cash no credit cards. Would you or your wife go there again? No, the customer has to be able to rely on this to have the confidence to build a new stream of business for all of us and our colleagues. Incidentally Tesco’s don’t want people paying cash, it costs them more to handle than credit cards. But in our case it will be the saviour of a flagging industry. (No pun intended?)

Ed: So no exceptions for weekend men and no exceptions for logos?

GR:
Absolutely, we all need to pull together to create a consumer market, as they’ve done in the USA. We have an amazing means to fight claiming back work from the mini cabs, who cannot compete with this. So yes – no exceptions! And to soften the blow we are going to pay every driver who fits all of the equipment, logos and all a one off £350 when they do their first credit card job! This really is just the lifeline our trade needs.

Ed: I understand you attended the LTFUC (London Taxidrivers Fund Underprivileged Children) Mad Hatters tea Party, which takes place at Grosvenor House Hotel’s Great room annually, was it good?

GR:
As Radio Taxis is an annual Patron and sponsor of this trade charity (as with all of the trade charities) we are always proud of the good work our colleague Taxidrivers undertake to help those less fortunate than ourselves.

GR: It has been a mark of the decency of the people in our industry. Of course the LTFUC is one of the longest standing charities and this year’s event was as good as ever. Among the acts that gave up their time to entertain at the Grosvenor House were, Stavros Flatley, the Cheeky Girls and Street dance sensations, Diversity. A great time was had by all.

Diversity                       Stavros Flatley

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