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Ottawa’s taxi industry this week could take a big step in competing against international companies that have swallowed a massive chunk of the local ride-ordering market.

The top bosses of the city’s largest cab company and the drivers’ union have reached an understanding that new a meter technology should be installed in cabs to allow discounts for rides booked through an app.

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That’s essentially the way Uber and Lyft work, but ever since those companies became street legal in Ottawa three years ago, the taxi industry has struggled to find a way to implement a similar ride-ordering system that would also adjust fares based on the demand for service.

Marc Andre Way, president and CEO of Coventry Connections, said a meter has been identified and the company is willing to pay for the up-front cost of buying the devices, with the drivers paying back the cost over a period of time. Each Centrodyne meter costs $381, he said.