Cashless payments provider Waxd Solutions is helping mini bus taxis in the North West go cashless, through its digital payments system for public transport.
Waxd, in partnership with Botransa Taxi Association, has introduced a cashless payment system for minibus taxis in Swartruggens, near Rustenburg.
Waxd’s automatic fare collection (AFC) system enables a digital payment solution that allows public transport passengers to swipe their bank cards, or pay via scan to pay.
The cashless payments device has a biometric payment authentication feature, allowing it to be used across multiple forms of transport, and meeting the needs of commuters, drivers, owners, merchants and retailers.
The AFC data structure automates the fare collection information, which utilises specific tags on the EMV chip of bank-issued cards for electronic recording and retrieving public transport-related data.
This digital financial history could open doors for access to financial services, such as credit and loans, helping to professionalise the industry and support economic growth, says the company.
"Going cashless is a crucial step in modernising our transport system and ensuring the safety of both drivers and commuters. Our cashless system ensures swift, secure and seamless transactions, allowing drivers to focus on what truly matters,” says Anthony Stewart, group CEO of Waxd.
The project was trialled in November 2024 and will be expanded to other parts of the country as part of phase three, which will take place in the near future.
The Waxd POS ecosystem is developed in SA for Africa. A core factor of the success within the taxi industry so far stems from the realisation that a solution and system of this nature will only succeed if it benefits all players, including drivers, commuters, owners, taxi associations and local businesses supporting the taxi industry, says Waxd.
The taxi industry plays a crucial role in South Africa’s economy, transporting millions of commuters daily. According to the South African National Taxi Council, approximately 15 million South Africans rely on minibus taxis every day.
Drivers and taxi owners believe some of the benefits of digital payments include better job security, not counting cash while driving and never having issues with change.
“As a taxi owner, now I can sleep at night because I don’t have to worry about collecting my money,” says Tshego Mangole, taxi owner and Botransa executive.
A project of this nature is not without challenges, as plenty of other companies have tried similar solutions and been unsuccessful in implementation, according to Waxd.
What makes the Waxd solution different is that despite experiencing similar challenges, particularly around adoption, the company has taken on board the feedback, grown and further improved the offering into a working and viable implementation, with direct input from the taxi industry, it says.
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