New York City cabs test ride-sharing for discounted fares

Markets Associated Press

Two competing ride-sharing services are teaming up to encourage New Yorkers to share the city's famous yellow taxis for a discounted fare.

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The New York Times reports the shared cabs are currently operating in Manhattan as of Tuesday.

The companies, Via and Curb, are making the effort to create a new option for people dealing with a subway system that's overwhelmed by delays, and lessen the impact of Uber and Lyft on the traditional cab business.

The service will eventually include green taxis, which operate in northern Manhattan and the city's four other boroughs. Passengers can opt for a shared taxi through the existing apps, and each party will pay 60 percent of the metered fare for the shared portion of his or her ride.