Cabcharge, a company specializing in taxi payment technologies, recently hit the 2 million contactless payment transactions milestone, according to ZDNet.

The company, with payment terminals already widely used across taxis in Australia, is also expecting that number to rise exponentially. Cabcharge particularly has high hopes for MasterCard and Visa contactless payments, which have each racked up 500,000 transactions since the beginning of the year.

The company has completed the activation of the Europay standard, or EMV, across all those terminals. It works in conjunction with Cabcharge’s Fastcard technology, to enable the processing of all cards that have MasterCard PayPass or Visa payWave contactless payment capabilities.

Cabcharge also has plans to facilitate new NFC payment options, by upgrading existing in-taxi payment engines that link the EFTPOS pin-pad to the company and National Australian Bank’s transaction processing centers.

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