What is Cab Exchange?
Cab Exchange is a price-discovery marketplace for private hire. You describe the journey you want to make, participating licensed operators can submit their own prices, and you compare the options before deciding which operator you want to proceed with.
Price discovery, not a single fixed fare
Private hire prices can vary between operators. Different businesses have different fleets, availability, operating costs, specialisms and appetite for a particular journey. Cab Exchange is designed to make that competition visible to the customer.
Instead of contacting several minicab offices one by one to ask for prices, a customer can submit one journey enquiry to the exchange. Eligible operators decide independently whether they want to price it and what price they want to offer.
How Cab Exchange works
- Request prices. Sign in and provide the pickup, destination, timing, passenger count, vehicle class and any useful journey details.
- Compare operators. Quotes appear in your Cab Exchange account. You can compare price, operator identity, TfL operator number, address, telephone details and marketplace reviews.
- Select an operator. You choose which operator you want to proceed with. The selected operator receives the information it needs to deal with you directly.
- The operator handles the booking. The licensed private hire operator processes the booking in its own system and is responsible for its own booking confirmation and the private hire service.
Why would operators use an exchange?
Operators do not all want the same work at the same time. A journey may fit particularly well with an operator that already has a vehicle near the collection point, has a return journey to fill, specialises in airport work or has spare capacity during a quieter period.
Cab Exchange lets operators choose which enquiries they want to price and set their own fare. The customer then decides whether price, reputation, vehicle class or another factor matters most.
Why would customers use it?
The main benefit is choice. A customer can see several independent offers without repeatedly explaining the same journey. The cheapest quote may win, but it does not have to. An operator with a stronger review history, a preferred vehicle type or a more suitable service may be worth paying more for.
Does Cab Exchange set the fare?
No. Participating operators set their own prices independently. Cab Exchange is intended to show the customer the offers available for a particular enquiry rather than dictate a market-wide fare.
What happens after I select an operator?
The operator handles the actual private hire booking directly. In London, TfL says private hire vehicles must be pre-booked through a licensed private hire operator, and the operator provides the booking confirmation before the journey begins. That confirmation should contain the required driver and vehicle details.
Cab Exchange will show the selected operator and marketplace status, but customers should still look out for the separate booking confirmation provided by the operator.
Official sources and further reading
- Transport for London — Taxi & private hire
- TfL — Guide to taxis and private hire
- TfL — Private hire operator licensing
- TfL — Passengers and accessibility
Guides are general information, not legal advice. Licensing rules and operator requirements can change; check TfL for the current position.