WaveCrest is using it's prepaid card program to help Taxi cab drivers and fleet managers make and receive payments. Today, drivers line up at the end of their shifts to collect payouts from taxi fleet companies; those payouts often come in the form of a paper check.
The executive explained that prepaid debit cards are a natural solution to many of these points of friction – WaveCrest’s newest features allow drivers and fleet companies to send payments back and forth between each other, and to automate the cashiering process when these companies need to calculate how much money a driver should receive. According to Abak, fleet companies are especially excited about the solution. “First of all,” she explained, “they don’t have to spend a lot of overhead or effort on manual cashiering.” Traditionally, drivers line up and get a paper check from the cab company, a process Abak explained as “a lot of work and a lot of confusion that keeps drivers off the road.”