A taxi platform that operates in Dubai and uses a pricing strategy that is based on auctions has been granted a license to operate there. As a result of this model's elimination of the commission mechanism, "lower prices for riders and higher incomes for drivers" are achieved.
It is said that Drife is the first decentralized ride hailing platform in the United Arab Emirates (UAE), and it provides consumers with the ability to select their tariffs from a number of different drivers. In accordance with the laws specified by the Roads and Transport Authority (RTA), a minimum fare is established for each and every ride. This fare is normally thirty percent higher than the standard fare. There are three options available to drivers: they can either request a premium, give reductions, or keep the ride's standard rate.
Offering different fare options
"Riders are then presented with various fare options from different drivers, which enables them to make informed decisions based on their preferences such as price, distance, driver proximity, vehicle type, and driver rating," Firdosh Sheikh, the founder of Drife, said in an interview.
"ensuring that up to one hundred percent of the fare paid by the rider goes directly to the driver" is the motto of the platform, which runs on a commission fee structure that involves no fees at all. More money can be made by drivers as a result of this, and the benefits can be passed on to passengers in the form of cost reductions.
Because the ride fare does not include a profit motive, Drife is able to provide riders with low fares while simultaneously ensuring that drivers receive their full profits. Drivers are required to pay a charge in order to gain access to the platform, which is a subscription-based model that the platform uses in order to maintain its operations. Consequently, the drivers are entitled to all of the earnings that are generated from rides, which helps to cultivate an ecology that is mutually beneficial," added Sheikh.
Directions for drivers to sign up
When the platform is finally released later this month, it will first begin with one thousand taxis. Our first step will be to collaborate with the chauffeurs of Dubai's limousines, and we will eventually aspire to join the RTA taxis. Sheikh stated that passengers can hail a Drife cab from Dubai and travel to any location within the United Arab Emirates.
Downloading the application and passing the registration process are the steps that prospective drivers need to take in order to become members of the platform. The Emirates ID, the driver's license, and the RTA card are the documents that they are required to present. It is the responsibility of the corporation to assure the safety and security of its drivers by conducting "independent background checks."
"In the beginning, drivers are provided with a complimentary thirty-day subscription period," said Sheikh. "After that, they are given the option to select either a daily or monthly subscription plan." Within the platform, drivers and riders alike have the opportunity to earn incentives for their active participation and engagement when using the platform.
Taxis on the Web 3
"Taxi 3.0 services" is what the company refers to the services it provides.
It is the community, the market, and the driver who are in charge of taxi 3.0; no one else is in charge. The pricing are determined by the market; there are no commissions required, and the only fee that drivers must pay to utilize the site is a subscription fee. It is the drivers who are entitled to the money for each and every ride. This direct link makes it possible to have ride-hailing experiences that are more personalized and tailored to the individual," added Sheikh.
She went on to say that the utilization of blockchain technology guarantees the transparency of prices.
Once Dubai's Virtual Assets Regulatory Authority gives its approval, consumers will eventually be able to use the company's own cryptocurrency, which is called DRF token.
"During the initial phase, traditional payment methods such as cash, credit, and debit cards will continue to be the primary alternatives for making payments, despite the fact that DRF tokens will be available for use as a form of payment. The adoption of DRF tokens confers numerous extra advantages to users.
2023 was the year that the corporation was successful in acquiring licenses in a number of cities across India, including Karnataka. There were over 350,000 users and over 30,000 drivers on the platform as of the end of the previous year.
