Cabcharge Limited (ASX:CAB)
along with other industry participants and taxi networks have been authorised by the ACCC to launch and operate a new smart-phone taxi booking app.
The initial members of the ihail joint venture include Yellow Cabs, Silver Top Taxi Service, Black and White Cabs, Surburban Taxis and Cabcharge.
The app will provide an additional platform for passengers to book taxis from a large pool of taxi networks and drivers.
The ACCC says its accepts it is likely to reduce waiting times, which will benefit the public particularly in peak times.
Cabcharge reported a net profit of $24.42 million at 31 December 2015.