The city's Taxi and Limousine Commission is now accepting proposals for an app that would allow riders to pay their fares with a smartphone.

They say they would also consider an app that allows people to hail a cab, but they point out that cab drivers are not allowed to use handheld devices.

The deadline to submit a proposal for the payment app is next Thursday.

Meanwhile, the tech company GetTaxi announced they secured $20 million in funding to support a launch of its app in the city.

The company says it already had success with the app in London, Moscow and Israel.