Karhoo, a U.K. price comparison and hailing app for licensed taxis and minicabs, is preparing to launch in the U.S. with the help of Bank of America Merchant Services eCommerce and cybersecurity solutions.
B of A will help the transportation aggregator facilitate in-app payments for users who want to schedule rides and pay for them securely without exchanging cash. The service is similar to the Ubers and Lyfts and other emerging ride sharing services in the U.S., but with "dozens of local transportation services and thousands of cars" on a single platform, Karhoo said in an Oct. 24 news release.
It is also looking to B of A for cybersecurity solutions like Card Account Updater, a service that automates customer billing information updates, TransArmor Data Protection and Fraud FlexDetect.
Users can select from various licensed and regulated car options based on proximity, price, and vehicle style. Karhoo's proprietary technology connects directly to fleet dispatch systems whose revenue reportedly has increased up to 30% after partnering with Karhoo, the company said in the release.
“What Karhoo achieved in its first six months operating its ride-hailing service in London - pulling in more than 33,000 cabs and now booking 7,000 trips per day - is nothing short of extraordinary,” Tim Tynan, chief executive of Bank of America Merchant Services said in the release. "[We are] thrilled to consult with Karhoo on its U.S. launch, and we look forward to helping payments flow seamlessly and securely between Karhoo customers and transportation providers.”