Tap to Pay (TTP): All You Need To Know About This New Technology!
Open Banking Services for the Taxi Sector – How It Can Benefit Your Business?
September 29, 2022
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How It Can Benefit Your Business?
Did you know that, by 2023, cash will only account for one-fifth of all payments in the UK? This is due to the rise of digital payments, which are becoming more and more popular each year.
Lynkpay is at the forefront of this movement, and we are proud to offer Open Banking Services for the taxi sector.
Our platform allows drivers to be paid securely and easily via card, apple pay, google pay, SMS payment link or QR code. And passengers can pay quickly and conveniently without having to worry about carrying cash.
We believe that our services will benefit both drivers and passengers alike, as it will reduce the amount of cash in circulation and make it easier for everyone to pay.
What is Open Banking and How Can It Benefit Me As a Driver/Passenger?
Open banking is a new way of managing your finances, and it’s set to revolutionize the way we bank. It will give you more control over your money, and it will be easier to manage your finances in one place.
Lynkpay is a payment platform that allows taxi drivers and passengers to easily make payments.
The company’s goal? To create an easier way for everyone involved – from those who own taxis, operate them or ride in them; all the way down through users such as you!
Built specifically with one thing on your mind: How can we simplify this process so it feels less stressful?
At Lynkpay, we are committed to providing our customers with the best possible experience. That’s why we have introduced open banking services for the taxi sector.
With our platform, you can:
- Keep your finances organised and streamlined
- Get paid faster, without the hassle
- Automate your payments so you never have to worry about them again
- Get real-time updates on all QR payments
- Keep your finances safe and secure
- Responsive Driver App
We believe that our services will benefit both drivers and passengers alike!
So why not try our services today? You won’t be disappointed!
How Do Lynkpay's Open Banking Services Work?
To use the LynkPay QR App for in-car payments, the driver first opens the app to the Code Generator page.
The driver then enters the amount owed by the passenger into the app and hits generate.
The passenger has the option to scan an in-car sticker and then enter the unique 4-digit code or simply scan the QR on the driver’s device to make the payment.
The payment is then processed through the app and the driver receives confirmation of payment. The LynkPay QR App is a simple and convenient way for drivers to accept in-car payments.
Why It's Important to Have a Business Bank Account?
Many drivers are using their personal bank accounts or family accounts as their business banking, which is not good for them to claim operational costs from their work.
A business bank account is a necessity for any driver who wants to be able to manage their finances and claim operational costs.
As a taxi driver, you are considered to be self-employed. This means that you will need to file a self-assessment tax return every year.
You can claim against many operating costs, which can really help. For example, you can claim for the cost of your vehicle, fuel, repairs, and maintenance.
It’s important to have a business banking account so that you can keep track of your finances and ensure that you are claiming all of the expenses that you are entitled to.
A business banking account will also give you a better understanding of your financial situation and will help you to plan for your future.
What’s more? We have a special offer for you on getting a sole trader bank account!
- Free for 12 months * no monthly cost
- Debit card
- Online banking
- Easier for keeping all business operational costs in one account
- Easier to keep track of fuel costs spend
Lynkpay also has a collaborative offer with Cashplus bank account, (an advanced payment solutions company)
Check out our offers today and make the switch to a better way of banking!
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