Market Overview

DFHV Launches New Taxi Payment Platform Powered by Square

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In the latest move to bring innovation to the taxi industry and riders
of Washington, DC, The Department of For-Hire Vehicles (DFHV)
has announced new digital meter solutions within taxis with payments
powered by Square.
Square's technology will support the shift to an all-digital platform on
a smartphone or tablet, eliminating outdated traditional meters,
streamlining the taxi experience and ensuring equitable rates for
consumers and drivers.

Washington, DC will be the first major U.S. city to transition to a
digital platform, setting an example for how the industry can transform
in the evolving digital economy. The new digital meters will allow
dynamic pricing for passengers hailing taxis from the street, as well as
a number of other customer-friendly features such as estimated fare
calculations, GPS route tracking and electronic receipts.

"With the move to an all-digital platform from the legacy taximeter
and Square's payment technology, we'll be able to provide better service
for both our customers and drivers who deserve fair rates and the
advanced features they have come to expect in our new digital environment
,"
said DFHV Director Ernest Chrappah.

Square makes it easy for drivers and riders. Drivers will be invited to
download one of the approved meter apps by the DFHV. Riders can use
whatever payment they wish and simply swipe, dip, or tap at the end of
their ride. For tipping, riders can then choose a preset or custom tip
and will be sent an electronic receipt via email or text after their
ride.

"We're excited to work with the DFHV to bring new technology to D.C.
taxis, providing a better payment experience for drivers and riders alike
,"
said Carl Perry, Square's Developer Lead. "Square makes it easy for
drivers by offering digital receipts, tipping options, and the ability
to accept any form of payment so they never miss a sale
."

All taxi drivers must move to the new digital platform by August 31,
2017, as mandated by the DFHV. Multiple meter apps are expected to be
available for use by the drivers. As part of this exciting digital
transition of the taxi industry, developers will be able to continue to
innovate, allowing for more services and features to be delivered in the
future.

Today's announcement comes during innoMAYtion,
Mayor Muriel Bowser's month-long initiative showcasing
groundbreaking programs during the month of May that define Washington,
DC a global model for innovation.

About The Department For-Hire Vehicles (DFHV)

The Department of For-Hire Vehicles (DFHV) is designed to protect the
public interest by regulating the vehicle-for-hire industry to allow the
citizens and visitors of the District of Columbia to have safe,
affordable, and accessible transportation options and ensure the
economic viability of the industry.

About Square, Inc.

Square, Inc. creates tools that help sellers of all sizes start, run and
grow their businesses. Square's point-of-sale service offers tools for
every part of running a business, from accepting credit cards and
tracking inventory to real-time analytics and invoicing. Businesses and
individuals use Square Cash, an easy way to send and receive money, as
well as Caviar, a food ordering service for popular restaurants. Square
also offers sellers services such as small business financing and
customer engagement tools. Square was founded in 2009 and is
headquartered in San Francisco, with offices in the United States,
Canada, Japan, Australia, Ireland and the UK.

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