A2B Australia

A2B Australia

Company type	Public company (ASX: CAB)
Industry	Land transport
Founded	1976
Founder	Reg Kermode
Headquarters	Sydney , Australia
Products	Transport-related services in Australia, United Kingdom & Europe
Revenue	A$197.3 million (2014)
Net income	A$65.8 million (2014)
Website	www.cabcharge.com.au

Cabcharge Australia Ltd (CAB) is an Australian diversified technological, financial services, taxi payments and passenger land transport company. It is a public company which listed on the Australian Securities Exchange ASX: CAB in December 1999 and is an ASX 200 company. The Cabcharge account payment system was established in 1976 to provide a way to pay for taxi fares by non cash means throughout Australia and participating countries. In 2005 it joined with a 49% interest in a joint venture with Singapore-based ComfortDelGro Corporation Ltd in ComfortDelGro Cabcharge (CDC). Since then CDC has had an increasing control in the bus industry in Sydney and Melbourne. A subsidiary of CAB operates taxi network services, which is a booking and dispatch service for taxis in Australia.

The company's activities have sometimes been controversial and it has faced strong criticism at times from inquiries and regulatory bodies. Cabcharge was the subject of Federal Court proceedings in 2010 over alleged anti-competitive practices including predatory pricing activities. It was fined heavily and forced to pay a record high $15 million settlement for these behaviours. The company is also facing accusations of profiteering for the 10% surcharge it imposes on taxi fares paid by a payment card and the matter is currently being investigated by the Reserve Bank of Australia. The surcharge has been reduced by law to 5% in Victoria following recommendations made by the Taxi Industry Inquiry and a further review of the surcharge in that State may lead to the figure being set at well below 5%. In December 2014 the surcharge was also reduced to 5% in New South Wales.

Outline

Cabcharge's principal activities include:

• provision of charge account facilities for businesses and individuals to enable non cash payment of taxi fares.
• development of a Point of Sale system that allows taxi users to pay their fare using third party charge, credit and debit cards and Cabcharge products. The system requires passengers to pay a 10% surcharge on their fare although the surcharge is currently being reviewed by the Reserve Bank of Australia following public comments and complaints that the surcharge is excessive.
• software development.
• provision of taxi booking and dispatch services through Taxi Networks in NSW (Combined Communications Network) and Victoria (13CABS). Additional capture of taxi owners, operators and drivers is practised through provision of services including repairs and installation of in-vehicle equipment, insurance, vehicle leasing and training.
• development of taxi-related hardware and software like taxi security camera systems, meters, and transaction processing equipment.
• provision of taxi booking and dispatch through CityFleet UK with operations in London, Edinburgh, Liverpool, Birmingham and Aberdeen in a joint venture with ComfortDelGro Corporation.
• operation of buses and coaches in NSW and Victoria through a joint venture with ComfortDelGro. Cabcharge has a 49% shareholding in ComfortDelGro Cabcharge. In NSW this operates Hillsbus, Hunter Valley Buses, CharterPlus and Qcity Transit and in Victoria, CDC Melbourne, CDC Ballarat and CDC Geelong.

See also

• Taxi Industry Inquiry

External links

• Cabcharge corporate website
• Taxis Combined Services website
• ASX - Cabcharge