The service will allow users going in the same direction to share rides - thus cutting the cost of their trip and potentially freeing up more taxis in urban centres.
The company piloted the new service in the Polish capital of Warsaw in recent months.
The concept is similar to that used by UberPOOL, however Newstalk's tech correspondent Jess Kelly said the service will only use fully licensed taxi drivers.
"It is going to be fully regulated," she said. "All the drivers are going to be licensed drivers."
"But the concept is if three people on Friday night are looking for a taxi and they are going the same direction; they can share or split the fare and try and reduce the pressure and the demand on taxi drivers."
MyTaxi hopes to roll the new service out across Europe in 2018 - however Joe Heron, president of the Irish Taxi Federation (ITF) has warned that it could pose real problems for taxi drivers.
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