Tag: peer to peer

In Singapore, commuters are taking advantage of a new, shared transport network called MyRideBuddy. The peer-to-peer rideshare provider allows people to get to where they want to go faster – while meeting new people – by matching drivers with riders for carpooling, and it sells itself by suggesting that it allows riders to link with other like-minded individuals to share a ride. To do this, participants register as Car Owner, Ride Taker, or Both, and the system matches people based on their desired journey requirements and mobile numbers. Riders are charged a ride fee plus a small transaction fee, which are passed on to car owners to offset transportation costs. In Singapore, over 1 million rides take place in more than 500,000 vehicles every day, and so MyRideBuddy facilitates more than formalizes the informal exchange of getting a ride while adding security, user agreements, and payment transaction benefits to the experience while, upon hitting a certain threshold of users, reducing traffic congestion, pollution, and personal driving expenses.