PayCab is a smartphone app which provides on-demand service to users.
It connects willing passengers to taxi cab drivers who use their own cars when providing taxi service and PayCab gets 20% of the fare.
The total process is very simple, registered PayCab users asks for a taxi using the PayCab app, a PayCab driver is then dispatched to the passenger’s location and assist the passengers to reach his/her destination.
The passenger’s credit card is used as the sole payment method.
Currently, this service is provided in the developed world (some 200 cities across 55 countries, as offered by Uber).
PayCab hopes to generate at least EC$1 million in revenue in 2019, relative to the size of the island and projected buy-in from both prospective passengers and drivers.
PayCab is not any traditional taxi business because it doesn’t employ any taxi drivers or owns any taxi. PayCab basically connects the passenger and taxi driver and takes a percentage of the fee from the fare.