SINGAPORE, January 13, 2025 – Ryde Group Ltd (NYSE: RYDE) (“Ryde” or the “Company”), a leading technology platform for mobility and quick commerce in Singapore, announces a significant step forward in delivering exceptional rider experiences while upholding its strong commitment to supporting driver-partners.
As part of its ongoing mission to empower driver-partners, Ryde continues to uphold its industry-leading 0% commission policy and 7 Driver Commitments, focused on
transparency, fair rewards, and long-term support. The 0% commission policy is extended to all private-hire and taxi drivers on the platform.
Platform Fee Adjustments to Enhance Fairness and Sustainability
Effective January 23, 2025, Ryde will introduce updated platform fees designed to promote fairness, sustainability, and improved service quality, further strengthening its dedication to building a fairer platform for riders and driver-partners. Starting January 23, 2025, Ryde’s platform fees (for both cash & cashless payments) will be adjusted as follows:
● For fares $18 and below: $1.05 (exclusive of GST)
● For fares above $18: $1.25 (exclusive of GST)
These updates reflect Ryde’s commitment to balancing affordability with fairness while ensuring long-term sustainability.
Strategic Focus Areas
Ryde continues to focus on initiatives that enhance experiences for riders and
driver-partners while building a sustainable and environmentally conscious business.
A) Enhancing Rider & Safety Experience
● Advanced Safety Features: Implementing more measures to ensure rider and
driver-partner security.
● App Upgrades: Introducing intuitive features, faster response times, and a more
user-friendly interface.
● Operational Enhancements: Streamlining processes to reduce wait-times and optimize ride matching.
● Technological Advancements: Leveraging proprietary AI and data analytics to improve match-rates and predict demand patterns.
● Platform Maintenance: Ensuring a seamless, reliable rider experience.
B) Empowering Driver-Partners
Ryde leads the industry in driver-partner support with initiatives including:
● 0% Commission Model: Ensuring driver-partners retain more of their earnings.
● 7 Driver Commitments: Promoting transparency, trust, and fairness.
● Fair Rewards and Benefits: Offering competitive earnings, transparent pricing, and
additional incentives.
● 1-Day Leave Scheme: Enhancing driver well-being by providing rest days to maintain high levels of service and satisfaction.
C) Building a Sustainable Business
Ryde remains focused on balancing fair and transparent pricing with sustainable operations by:
● Maintaining affordable fares while ensuring driver-partners are fairly compensated.
● Strengthening ongoing innovations and operational improvements.
● Promoting eco-friendly practices, such as carpooling, to reduce carbon emissions.
D) Commitment to Environment: RydeGreen Program
As part of its sustainability mission, Ryde continues to drive impactful initiatives through the RydeGreen Program. The program is designed to promote the use of electric vehicles (EVs) among driver-partners, reduce carbon emissions, and support Singapore’s Green Plan 2030.
By encouraging EV adoption, carpooling, and other eco-friendly practices, Ryde is
committed to building a greener, more sustainable mobility ecosystem.
Looking Ahead
Ryde estimates that these changes may potentially contribute to a 15-20% increase in revenue for the financial year 2025, which can be reinvested into improving the platform’s operations, services, and ecosystem for the benefit of all stakeholders.
Ryde’s growth is rooted in its vision of creating a community-centered, sustainable, and innovative ecosystem, ensuring the long-term sustainability of its platform while benefitting riders, driver-partners, and the wider community.
