Standard Bank introduces Taxi Yam – an app to pay for commuting

Standard Bank is launching an easy-to-use mobile app that they say will take the stress out of paying for a taxi.

With the new app, users can receive or send money with an instant money voucher, link the Taxi Yam prepaid debit card and use it anywhere, pay for a taxi trip using the card, load cash into the online wallet at the taxi rank, manage the card in the comfort of the user’s home, buy airtime and data to stay connected, and view one’s commute transactional history.

According to the bank, a cashless commute means less stress for travellers, and more control for taxi owners and associations. Through digital payments, commuters can pay an exact amount, knowing money will go straight to the right account.

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Motlatsi Mkalala, Head of Main Markets at Standard Bank, said that Taxi Yam is a complete mobility platform that will help taxi owners and drivers connect and interact with commuters. “Our goal is for the app to become a reliable part of the public transport system in South Africa and improve the lives of passengers, drivers, and owners,” he said.

“Taxi Yam will help you budget your monthly transport funds and give you a safe, secure place to store them. As a cashless payment solution, you can use the app to pay the exact amount for taxi fares without having to stop to draw cash,” he added.

Future plans also involve updating Taxi Yam to alert a commuter when taxis are unavailable, provide information on road accidents, and tell commuters what the taxi fare is on a new route. The team is also working on a feature that will allow commuters to find and hail a taxi when they are in a rush. Also, with more information on commuters and their routes, taxi associations can start analysing data and making more informed transport decisions.