Homegrown ride-hailing app, RYDE Technologies, announced today that all drivers will be able to instantly cash out their earnings from this week.
All drivers include carpool, private-hire, and taxi drivers, with a Singapore-registered bank account can be paid instantly.
The minimum instant cash-out amount is $40 and the maximum is $180.
There is a $1 fee per transaction to cover administrative costs, RYDE said, but there is no limit to the number of times a driver can cash out instantly in a day.
Drivers have the option to cash out like before, where there is no transaction fee or maximum amount but will take up to four working days for funds to be received in their bank accounts.
This comes after RYDE conducted a beta test over the past few months allowing drivers to get their earnings via selected debit cards.
Terence Zou, founder and CEO of Ryde Technologies says, “We are happy to make this feature available to everyone after months of beta-testing.”
“Now all drivers can drive and be paid immediately on the same day.”
RYDE joins ride-hailing firms TADA and Grab with the implementation of the Instant Cash Out feature.
Featured Image Credit: Nikkei Asian Review, Mayuko Tani
