Ryde Marks a Transformative Milestone in Singapore's Mobility Landscape

Ryde Group Ltd (NYSE American: RYDE), a leading technology platform for mobility and quick commerce in Singapore, has marked a significant milestone in the country's mobility landscape with its strategic partnerships and commitment to driver welfare. The company's innovative approach to ride-hailing, including its 0% driver commission model, has not only attracted and retained a large base of drivers but also differentiated it from competitors, fostering a driver-first culture that prioritizes safety, security, and well-being.

Ryde's strategic partnerships, such as those with Singlife and MaNaDr, have significantly influenced its expansion and user base. The partnership with Singlife has led to the enhancement of RydeSafe, Ryde's flagship safety initiative for riders, offering complimentary coverage until 30th September 2024. This includes Singlife Ride Cover paying S$15,000 per passenger in the event of a road accident resulting in death, up to S$15,000 for total and permanent disabilities, and up to S$1,000 for accident-related injuries. Additionally, Ryde provides S$20 in RydeCoins for passengers who require emergency assistance due to an accident. These benefits have likely increased user trust and confidence in Ryde's services, attracting more riders to the platform.

Ryde's partnership with MaNaDr has provided Ryde's driver-partners and their families with access to affordable healthcare services through MaNaDr's 24/7 telemedicine platform at members' rates. This has likely improved the well-being of driver-partners and their families, minimized downtime for driver-partners due to illness or injury, and attracted more driver-partners to the Ryde platform due to the additional benefits and support.



Ryde's commitment to driver welfare, as demonstrated by initiatives like the Work Injury Compensation Act (WICA) protection and driver well-being schemes, has significantly impacted its market position. The implementation of WICA protection ensures that driver-partners are financially secure and have peace of mind while working on the Ryde platform. This not only addresses drivers' concerns about potential risks on the road but also fosters a sense of trust and loyalty towards the company, further strengthening Ryde's market position.

Ryde's 0% driver commission model, combined with its strategic partnerships and commitment to driver welfare, has attracted and retained drivers, enhanced driver safety and security, differentiated Ryde from competitors, and fostered a positive public image and brand recognition. These initiatives have played a crucial role in solidifying Ryde's position as a leading mobility platform in Singapore.

Ryde's innovative approach to mobility and quick commerce, coupled with its commitment to driver welfare and strategic partnerships, has marked a transformative milestone in Singapore's mobility landscape. As the company continues to grow and expand its services, it is poised to redefine the way people and goods move around, setting a new standard for mobility platforms in the region.

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