Grab to implement dynamic pricing starting from 29 March | The Online Citizen

Ride-hailing application provider Grab has announced that it will implement dynamic pricing, JustGrab, starting from next Wednesday (29 March), following approval granted by the transport authorities last week.

The new system will be put on trial starting from today among Grab employees and commuters on its rewards programme.

The move means that commuters who book through JustGrab will be picked by either a GrabCar driver or a taxi driver who have inked partnerships with the provider, which are MRT Taxis, Prime Taxi, Premier Taxis, Trans-Cab and HDT Singapore Taxi.

The system includes upfront fares, where commuters will know how much a ride costs before a journey begins when they book a ride through the application, as well as the vary in cost, where the price is high during peak hours and low when there is less demand.

The system will also make it easier for the taxi driver as commuters are matched to the nearest vehicle available.

Melvin Vu, GrabTaxi Singapore head, eased the concerns that dynamic pricing would not only lead to higher taxi booking fares during periods of high demand, but also the likelihood of cabs ignoring street commuters during peak hours. Dynamic pricing adjusts to real-time market demand, resulting in cheaper fares at low demand periods. By uniting fixed fare taxis and cars as one, the increased vehicle supply means JustGrab fares will fluctuate less and be more affordable throughout the day.

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Grab to implement dynamic pricing starting from 29 March | The Online Citizen.