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Lyft testing new pay algorithm to lure drivers (Oct. 11)

Published 10/13/2022, 03:13 PM
Updated 10/14/2022, 01:25 AM
© Reuters. FILE PHOTO: FILE PHOTO: The Lyft Driver Hub is seen in Los Angeles, California, U.S., March 20, 2019.  REUTERS/Lucy Nicholson//File Photo/File Photo
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(This Oct. 11 story has been corrected to remove para 7 and 8 referencing a driver-led campaign against Uber as the information was dated)

By Nivedita Balu

(Reuters) - Ride-hailing firm Lyft Inc (NASDAQ:LYFT) said on Tuesday it was testing an earnings algorithm that will allow drivers in 18 U.S. cities to see destination and pay details before accepting a request.

The test follows a similar move by bigger rival Uber Technologies (NYSE:UBER) Inc and underlines how the companies are going the extra mile to fix driver shortages to take advantage of a demand surge brought on by a return to office and travel since the pandemic.

Lyft drivers will have access to details such as drop-off locations, estimated distance and time, as well as fare details before accepting a ride. The company plans to expand this service to more cities through 2022.

It is also investing to test filters that will allow drivers to set a preferred driving radius and give them the option to choose their ride.

Drivers for ride-hailing firms have been struggling with higher fuel and maintenance costs and have long demanded the access to such details.

© Reuters. FILE PHOTO: FILE PHOTO: The Lyft Driver Hub is seen in Los Angeles, California, U.S., March 20, 2019.  REUTERS/Lucy Nicholson//File Photo/File Photo

"We'll also design Upfront Pay over time to include bonuses and incentives," Lyft President John Zimmer said.

Looking to launch upfront pay "without limitations", Lyft said a survey of over 1,000 drivers showed more than 70% preferred the upfront pay model to the previous pay models.

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