Turnover of the Cabcharge payment system increased only 0.7 per cent, to A$1.06 billion, in the year to June 2013. This follows growth of only two per cent or so over the last two years.Analysis by MWE Consulting of the Reserve Bank payments' data puts growth in spending on payments cards at 13 per cent in the last financial year, and growth at around four per cent in the two years before that.While Cabcharge grizzles about "subdued economic conditions" and cost cutting by major customers, there is not much data available on taxi services and this market.The alternative explanation for Cabcharge's low revenue growth is the diversion of payments to the second terminals found in many cabs provided by CabFare, which is using rebates on the surcharge to attract taxi owners to its system.Cabcharge improved its "effective service fee" by 10 basis points to 9.3 per cent. Its net profit for the year was $60 million - an increase of one per cent over the previous corresponding period.It recorded growth of nine per cent in payments made on bank-issued debit and credit cards, which displaced its own-brand cards, as well as American Express, Diners and JCB.This may reflect a rising use of contactless payments, which now account for 43 per cent of transactions on Visa and Mastercard-branded cards.Cabcharge appears to have softened its rhetoric on the planned halving of its 10 per cent levy in Victoria.  The final report of the Victorian Taxi Inquiry has repeated a recommendation to halve the surcharge on electronic payments to five per cent, a step that would cost Cabcharge in the region of A$15 million a year.In his commentary, Reg Kermode, the executive chair, said this "provides opportunities". He did not speculate on the financial impact.Taxi fares are due to fall in Sydney.