A taximeter is a mechanical or electronic device installed in taxicabs that calculates passenger fares based on a combination of distance travelled and waiting time. It is the shortened form of this word that gives the "taxi" its name. History Taximeters existed in ancient Rome, where they employed a mechanism that used the turning of the cart's axle to release small balls. At the end of the trip, the passenger paid based on the number of released balls. The modern taximeter was invented by Germ… (More on Taximeter)