OnDemand WTP Pricing Research

ComfortDelgro is testing out surge pricing on its app, but promises to limit fare increases | Business Insider Singapore

In a move mimicking the pricing model for ridehailing companies like Grab and Uber, ComfortDelGro is testing out a new feature on its app that resembles surge pricing.

The feature, named ComfortRIDE, will see taxi fares get adjusted “according to market demand and supply”, ComfortDelGro said in a statement on Tuesday (May 7).

ComfortDelGro CEO Ang Wei Neng said the new feature will help the company meet increased demand for taxis by getting more drivers on the roads during peak times like rush hour or rainy spells.

The new pricing system will see fares drop during off-peak hours and rise during peak hours, though the company said it would monitor peak demand to ensure fare surges are “limited and not exponential”.

Read complete article here:

ComfortDelgro is testing out surge pricing on its app, but promises to limit fare increases, Business Insider – Business Insider Singapore.