Alipay gives cab fare rebate to users of taxi-hailing software

By Ding Yining | January 20, 2014, Monday |

Online Edition

ONLINE payment service Alipay said it is wooing consumers by subsidizing taxi riders and drivers who have successfully placed an order through smartphone taxi-hailing software Kuaidi Taxi to woo consumers.

The two parties will provide a 10 yuan (US$1.60) coupon to the taxi driver as well as a 10 yuan rebate to a passenger’s Alipay account to attract users and grow its market position.

Alipay's service has grown to more than 400,000 cab drivers in 40 cities after starting in May. In Shanghai, Kuaidi Taxi and Alipay connect with more than 60,000 cabs.

Alibaba Group, which is also the founder of Alipay, was an investor in the first round of financing for Kuaidi Taxi.

It said in December that it will pour another US$100 million into the company and provide additional support to boost its market position.

The mobile payment realm will see more competition in the coming year as both Alipay and Tencent's payment service are beefing up efforts to reach offline sectors to attract users.

Tencent earlier this month announced a partnership to allow users to pay for taxi fares by WeChat and it joined hands with CITIC Private Equity Funds Management Co to invest US$100 million in Didi Taxi’s mobile taxi-hailing software.

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Alipay gives cab fare rebate to users of taxi-hailing software

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