Ride-hail Bolt drivers allowed to SET OWN FARES in UK industry first to combat national concerns
Ride-hailing firm Bolt is set to introduce a major change on its minicab app platform by allowing drivers to set their own prices and passengers to select their driver.
The moves, which are a first for any UK ride hailing operator, are designed to make the Bolt platform more attractive to drivers by giving them additional control of their business.
The changes are also aimed at addressing national concerns around driver shortages which have been leading to longer wait times, cancellations and surge pricing across all platforms.
Drivers are said to have asked Bolt for more flexibility over pricing, with many currently choosing to accept and then reject trips if a more profitable journey becomes available elsewhere, leading to a poor experience for customers.
Drivers will be able to set their own prices within a range to reflect their own preferences and local market conditions. Alternatively they can continue to use Bolt’s dynamic standard pricing. It is hoped the move will lead to a better functioning marketplace, with fewer cancellations, and better stability of earnings over a weekly period.
Bolt will be testing the new features across several cities starting from this week ahead of a planned UK wide roll out before Christmas.
Bolt has over 65,000 drivers and 4million customers in the UK across 14 cities having launched in London in 2019.
Sam Raciti, Bolt’s Regional Manager for Western Europe, said: “Drivers have consistently asked us for the ability to set their own prices so they can ensure a journey is profitable enough before it's accepted. By making these changes we hope to reduce waiting times on the Bolt app and have fewer driver cancellations so customers can get to their destination quickly and safely following increased demand in recent weeks. We have built our business around giving drivers total flexibility. These changes are part of that philosophy and will create a better functioning marketplace.”
