§ 66-19 Business Requirements – Compliance with Technology System Requirements.
RCNY § 66-19
(a)Credit, Debit, and Prepaid Card Payment.
(1)A Technology System Provider must ensure that a System that has been installed in a Taxicab or Street Hail Livery provides Credit, Debit, and Prepaid Card Services in compliance with the requirements of subdivision (a) of 35 RCNY § 66-24.
(2)If the Technology System Provider maintains a credit card merchant account on behalf of the Medallion Owner or Street-Hail Livery Licensee, the Technology System Provider must ensure that, when Passengers pay by credit, debit, or prepaid card, the Medallion Owner or the Medallion Owner's authorized payee receives deposit of funds within forty-eight (48) business hours, excluding banking holidays, of transaction settlement. 35 RCNY § 66-19(a)(1)-(2)Penalty: $500 per day payment is late and/or suspension up to 60 days or revocation for each paragraph violatedAppearance REQUIRED (b) Trip Data Collection and Transmission.
