Ryde Group: Maintaining 0% Commission and Enhancing Platform Fees

Ryde Group Ltd (NYSE American:RYDE), a leading technology platform for mobility and quick commerce in Singapore, has announced its commitment to maintaining the 0% commission policy for all private-hire and taxi drivers on its platform. This policy, which was initially introduced in 2024, aims to empower driver-partners by allowing them to keep all their earnings from each trip. In addition to this, Ryde has also announced adjustments to its platform fees, effective January 23, 2025, to promote fairness, sustainability, and improved service quality.

Starting January 23, 2025, Ryde's platform fees for both cash and 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. The company 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. The company continues to focus on initiatives that enhance experiences for riders and driver-partners while building a sustainable and environmentally conscious business.



Ryde's 7 Driver Commitments, which include fair earnings, safety first, professional development, dedicated support, job flexibility, active engagement, and sustainability, contribute to its competitive advantage in the mobility market. These commitments help Ryde attract and retain driver-partners by focusing on driver-partner empowerment, transparency, and long-term support.

In conclusion, Ryde Group Ltd's decision to maintain the 0% commission policy and adjust platform fees demonstrates its commitment to empowering driver-partners and building a sustainable, community-centered mobility ecosystem. These changes have the potential to increase revenue and reinvest in platform improvements, ultimately benefiting all stakeholders. Ryde's 7 Driver Commitments further enhance its competitive advantage in the mobility market by focusing on driver-partner empowerment, transparency, and long-term support.