The term 'Taxi Device' is often used to refer to a device that measures the fare of a taxi ride. This device is commonly referred to as a METER, which is a five letter word that is one of the solutions to the crossword. The METER is typically installed in the taxi and is used to calculate the fare based on the distance traveled and the time spent in the taxi. The METER also records the total fare for the ride, which is then paid by the customer.