We all know that feeling of waiting for surge prices on ride-hailing apps like Grab to go down. Well, Grab rides are going to get slightly more painful on your wallet soon.
On Friday (11 Dec), Grab announced that they will start charging a platform fee of $0.30 from next Friday (18 Dec).
This reportedly comes as their price-change restrictions from the Singapore competition watchdog was lifted back in November.
Starting next Friday (18 Dec), Grab will charge a platform fee of $0.30 for rides, reported The Straits Times (ST).
This fee includes good and services tax (GST) and will be applicable for all Grab rides, with the exception of GrabHitch and GrabResponse services.
This is reportedly the first price adjustment that Grab has made since the Competition and Consumer Commission of Singapore (CCCS) lifted its restrictions.
According to Grab, the platform fees will be directed to “funding initiatives that make rides better, safer, and more secure” for both customers and drivers.
In fact, two-thirds of the platform fee will be channelled to maintain, develop and enhance product features mainly in safety, security, quality, and productivity.
The remaining will go towards initiatives that support drivers such as benefits, training allowance, and the Medisave match programme.
Gojek – arguably Grab’s biggest competitor here in Singapore – had also introduced a platform fee of $0.70 back in March.
Similarly, Grab had added a $0.20 platform fee to GrabFood delivery services in late-March, reported ST.
Up until November, Grab had not been allowed to introduce the platform fee for its ride-hailing services due to restrictions since 2018.
This was due to its merger with Uber which significantly reduced competition in the ride-hailing market in Singapore.
However, CCCS lifted these restrictions after a new point-to-point transport regulatory framework was implemented.
While we may not be thrilled at the slight price increase, it is praiseworthy that Grab is still rolling out new initiatives amidst a challenging year.
And in the grand scheme of things, $0.30 might just be a small price to pay to ensure better safety and security for all.
We especially hope that through these initiatives, Grab drivers who have been heavily impacted this year, will receive better support.
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Featured image adapted from UCars and Grab.
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