TADA Ride-Hailing Singapore Is A Blockchain-Based Mobile App By MVL | Vulcan Post

Founder Kay is South Korea-born, which explains the name TADA, meaning “let’s ride” in Korean.

The app charges a fixed-fare rate to use, and a metered rate that starts from a base fare of $2.30.

While cash transactions do not incur any transaction fees, riders paying by credit cards will be charged a 3.4% fee which goes to the payment gateways.

As the company grows, they will negotiate with payment gateways to lower the fee.

Kay noted that with the dynamic pricing model, fares can go up to five times that of a regular ride during peak hours.

TADA promises about 50% cheaper surge rates because its model allows it to. However, they are still seeking feedback from drivers and riders to set a reasonable price range.

They currently have over 2,000 driver sign-ups, which is about 100 to 200 sign-ups a day, and they aim to have 3,000 to 4,000 drivers by August.

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TADA Ride-Hailing Singapore Is A Blockchain-Based Mobile App By MVL.