Australia's 65,000 taxi drivers and their 372 million passengers would benefit dramatically from an end to Cabcharge's cosy monopoly in the Australian taxi market, with better services at lower costs, claims Tyro. Tyro Payments and its partner Cabfare want the Reserve Bank of Australia to "designate" (meaning regulate) the Cabcharge taxi payments system  and open it to competition.Branding Cabcharge's hold on the market "one of Australia's longest lasting monopolies and held for 38 years," Tyro said that CabFare "approached Cabcharge to become a Cabcharge merchant in order to process Cabcharge transactions in taxis."Tyro said "Cabcharge repeatedly refused CabFare and Tyro access to Cabcharge cards."It said it "asked the RBA in November 2012 to intervene and set the access fees and arrangements; bringing Cabcharge into line with other card issuers like MasterCard and Visa Card."