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Cabcharge set out in 1976 to bring payment efficiency to the Taxi Industry. 

Our intention was to develop a system to help taxi operators and drivers manage their non- cash fares. In those days, credit and charge cards of all kinds were in a fairly early stage of use in Australia. 

The Cabcharge system was a success - and grew faster than anyone expected. 

Today, Cabcharge is offered in 96% of all taxis in Australia, as well as in some other transport systems such as limousines and water taxis. 

Yet, although our Company had grown at balance date to a market capitalisation of more than $390m, some things have not changed. For example, we still depend on two commitments we made in the early days to take us forward profitably into the future. 

## CHAIRMAN’S REPORT CONTINUED 

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The main commitment we made that has enabled us to grow into today’s solid and well- founded Cabcharge was to develop the best possible credit technology for taxi operators and their customers. Following on from that was our commitment to expand that technology and the expertise we developed in the Australian market into other markets, both here and overseas. 

These form the foundation of our present success and of our strategies for the future. 

more " This year has finally seen the full implementation of the Cabcharge Fareway EFTPOS System, which only came on stream completely in 2001. This marks an important stage in our technology, as 2001 has also seen a doubling of the volume of fares processed by electronic transmission directly from the taxi (from $101m to $195m) while the manually processed charges have remained at around the same level. 

