Gleike Taximeters to go out of business after financial problems

(WJLA) - Another one of the eight credit card processors approved to operate in District of Columbia taxicabs is going out of business.

Gleike Taximeters and the D.C. Taxicab Commission have agreed to terms on the company ceasing operations as a service provider to hundreds of taxis across Washington, officials announced Monday in a statement.

WAMU's Martin di Caro reports that more than 700 D.C. cabs were using Gleike as their credit card processing company.

DCTC officials say that the company failed to meet city regulations after a series of financial problems posed issues for cab drivers to receive payments. The company also defaulted on its passenger surcharge payments to the city.

Cab drivers who have Gleike devices installed in their cars have until Jan. 17 to make an appointment for another company to install a credit card reader in their vehicle. Transco, another approved service provider, says it will accept former customers.