Meru cabs get 70% revenue from app
After recently collaborating with Mobikwik and Paytm, Mumbai's Meru Cabs say they get more than 70% of their revenue from bookings from their mobile apps.&nbsp;Meru has a fleet of more than 50,000 taxis and says it has completed more than 35 million trips across India.&nbsp;
MUMBAI: After tying up with wallet service provider Citrus last year, Meru Cabs has partnered with two more mobile payment service providers, Mobikwik and Paytm , saying it gets more than 70% of its revenue from bookings done on its mobile application.Customers can top up their wallets in any of these service providers and use the money to pay for the rides. Meru also introduced a zero-click option, where the amount will be directly debited from mobile wallets.“Taxi services are high frequency transaction just like ecommerce and we believe in giving consumers the benefit of choice,” Siddhartha Pahwa, CEO of Meru Cabs, said in a statement.The Mumbai-based cab service provider, in which private equity firm India Value Fund Advisors owns a majority stake, started with a fleet-based model. But in the last few years it has been moving to a more asset-light marketplace model, similar to that of other technology-based cab services Ola and Uber Meru has a fleet of more than 50,000 taxis and says it has completed more than 35 million trips across India.