New App Helps Taxis Compete

"Today the Midtown-based startup Waave began rolling out an app that lets users order a cab and get a binding, upfront fare quote and an estimated time of arrival, just as they would when booking a ride with Uber or Lyft," reports Mathew Flamm.

The new app is intended to help taxi drivers compete with the convenience offered by ride-hailing apps like Uber and Lyft's. The app offers another kind of benefit to taxi drivers: "Waave users also will pay through the app, and the money will go straight into the driver's account."