Image Credit: Tech in Asia
Despite fierce competition in the ride-hailing industry in Singapore, the lion city’s first zero-commission ride-hailing service provider, TADA, is set to launch a new service in partnership with a taxi firm, Premier Taxi.
From next Tuesday (19 February) onwards, riders will be able to enjoy faster matching via AnyTADA which can match them to either the closest private-hire vehicle (PHV) or a TADA-registered taxi. This service is somewhat similar to what Grab is offering via the JustGrab mode. However, this new upgrade provides riders more convenience as previously Tada riders had to choose between PHV or taxis before hailing a ride.
This introduction comes after approval from the Singapore’s Public Transport Council and Land Transport Authority to roll out flat fares for taxis with Premier Taxi.
Shaking up the ride-hailing industry
TADA, which means “let’s ride” in Korean, the on-demand point-to-point transportation service app launched in Singapore on Thursday (26 July) by Mass Vehicle Ledger (MVL) Foundation. The app promises a zero-commission model for drivers and other incentives, such as a cryptocurrency-based rewards programme. On the other hand, for riders, there will be no cancellation charges while fares will be kept competitive.
MVL also raised around US$16 million (S$22 million) through its initial coin offering (ICO) earlier last year and has been using these funds to fuel its operations into Singapore.
Apart from providing ride-hailing service, TADA also plans to integrate other key players in the industry which includes used car services, auto insurers, and even vehicle repair shops.
Its blockchain platform will track and gather data on all vehicle activities, and with the consent of its users, the data might be sold to related transport companies or researchers for revenue in the near future.