- This week, LYFT Inc (NASDAQ: LYFT) said it is expanding on its program offering cheaper rides for customers who are willing to wait a longer amount of time to be picked up.
This week, LYFT Inc (NASDAQ: LYFT) said it is expanding on its program offering cheaper rides for customers who are willing to wait a longer amount of time to be picked up. The Lyft “Wait and Save” pilot program is going to be available across the U.S. and Canada. Riders can pay less than the standard price and will not have to share the ride to be eligible for the lower price. The ride just requires a longer waiting time.
Due to social distancing orders, the ride-hailing industry has taken a major hit. And Lyft had paused its ride-sharing operations due to social distancing to prevent the spread of the coronavirus.
The Lyft drivers offer drives at the lower rate will make their standard rates. Lyft has a customer base of about 22.9 million.
“Now, more riders than ever will see Wait & Save as an option in their Lyft app alongside our standard ride modes. Riders who choose Wait & Save will always pay less than they would for a standard Lyft ride, and typically the longer they need to wait, the more they will save,” said Lyft in a blog post. “This allows for the rider to be matched with the best-located driver. Of course, for riders that need a quicker pickup, a standard Lyft ride is still available and prices and ETAs are always shown in the Lyft app.”
Lyft pointed out that 40% of its rides in the U.S. start or end in a low-income area. And there are many who rely on Lyft to get to the grocery store, pharmacy, essential businesses, or to care for loved ones.
“As the impact of COVID-19 becomes clearer we will evaluate all of our options to make sure Lyft riders are able to get where they need to go affordably and responsibly,” added a Lyft spokesperson.
