Cabcharge

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. Cabcharge listed on the Australian Securities Exchange ASX: CAB in December 1999 and is an ASX 200 company. The company has since diversified and its key activities now include technology, taxi payments and increasing control in the Australian bus industry through its shareholding in ComfortDelGro Cabcharge. The company's activities are sometimes 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 criticism of profiteering for the 10% surcharge it imposes on taxi fares paid by card and the matter is currently being investigated by the Reserve Bank of Australia.