A fare meter is a device used in taxis and other vehicles to calculate the fare based on distance traveled and time taken. It automatically tracks the journey, providing an accurate cost for passengers. Fare meters are essential for ensuring transparent pricing in the transportation industry. Typically, fare meters are equipped with a digital display that shows the current fare, and they may also include additional features like a trip timer and a receipt printer. Many modern fare meters are integrated with GPS technology, allowing for more precise calculations and improved service for both drivers and passengers.