Startup Helps Cab Industry Compete with Ride-Hailing Services

Flywheel is trying to save taxicab businesses with Uber-like apps, including a new way for passengers to pay for rides with their smartphones. “After getting into a cab, passengers merely open the Flywheel app to automatically link up with the driver’s app,” reports Fortune. “After the ride ends, the passenger can pay directly through the app.” Flywheel is currently available in five cities, where it is helping cab companies fend off popular services such as Uber and Lyft. DeSoto Cab in San Francisco even rebranded its entire fleet into Flywheel cars. Flywheel collects a 10 percent cut from fares and charges passengers $1 per ride.