Ryde Rolls Out Double Cashback for Eid al-Fitr, Strengthening Subscription-Based Mobility in Singapore.
Ryde Rolls Out Double Cashback for Eid al-Fitr, Strengthening Subscription-Based Mobility in Singapore.
SINGAPORE, SG / ACCESS Newswire / March 26, 2025 / Ryde Group Ltd (NYSE American:RYDE) ("Ryde'' or the "Company"), a technology company with a leading platform for mobility and quick commerce in Singapore, is marking Eid al-Fitr (also known as Hari Raya Aidilfitri in Southeast Asia)with a Double Cashback initiative for its loyal subscribers.
From 17th March to 31st March, Ryde+ subscribers will receive an additional 3% cashback on all rides paid with RydeCoins, doubling the usual rewards. The initiative is designed to help riders save more during Ramadan, a time of reflection, generosity and togetherness.
Ryde+ Driving Change in Singapore's Competitive Ride-Hailing Market
Singapore's ride-hailing industry is one of the most competitive in Southeast Asia, with multiple players competing for market share in a price-sensitive and service-driven landscape. The market has seen intense competition in pricing, promotions, and service differentiation, making customer retention a key challenge for ride-hailing platforms. As a result, companies are increasingly looking at subscription-based mobility models as a way to build long-term loyalty and sustainable revenue streams.
Ryde+ has emerged as a leading subscription model in Singapore's competitive ride-hailing industry, providing riders with tangible cashback benefits, priority ride-matching and lifestyle perks that sets it apart from it's competitors. In fact, Ryde+ is the only subscription program in Singapore that offers unlimited cashbacks on every trip.
Since its launch, Ryde+ has seen rapid adoption among daily commuters who rely on ride-hailing for work, family, and social engagements. The introduction of the Double Cashback Program, following the success of Ryde's Supersized Cashback Christmas Challenge, is part of the company's broader strategy to strengthen customer loyalty and enhance its subscription-driven revenue model.
Ryde+ subscribers are now rewarded with double cashback benefits, designed to enhance platform engagement and showcase Ryde's subscription-based growth strategy. The festive campaign reflects Ryde's commitment to delivering greater value while celebrating key cultural moments with our local community.
By leveraging festive campaigns and rewards, Ryde+ aims to carve out a sustainable niche in Singapore's highly competitive ride-hailing space, ensuring riders continue to choose its platform over alternatives.
Exclusive Benefits for Ryde+ Subscribers During Eid al-Fitr
To enhance mobility access during one of the busiest travel seasons of the year, Ryde+ subscribers will enjoy a suite of exclusive perks throughout Eid al-Fitr, including:
Double Cashback Delight: Enjoy an extra 3% cashback on all rides paid with RydeCoins, on top of the usual cashback rewards.
Unlimited Cashback: 3% cashback on every trip, plus additional fixed cashback on selected rides.
Additional Cashback: Earn extra $2 cashback on the first 11 trips and a $5 bonus on the 16th trip.
Priority Matching: Faster ride-matching during peak hours for greater convenience.
Lifestyle Perks: Exclusive discounts and deals across F&B, retail, and lifestyle partners.
Through these exclusive benefits, Ryde+ aims to provide riders with not just a subscription, but a smarter, more rewarding way to travel - one that aligns with their daily lifestyle while offering unmatched savings and convenience.
"Through our Double Cashback program, we are excited to celebrate with our community by providing meaningful savings and added convenience," said Charmaine Lam, Assistant Manager, Marketing at Ryde. "Ryde+ is not just a subscription- it's a smarter, more rewarding way to move, especially during this festive season."
The Future of Subscription-Based Ride-Hailing in Singapore
Singapore's ride hailing industry is seeing a shift toward subscription-driven models, mirroring global trends where riders seek predictable pricing, enhanced perks, and seamless user experiences.
Ryde's approach-combining cashback rewards with seasonal engagement strategies-has positioned it as a key player in Singapore's evolving ride-hailing ecosystem. With a focus on long-term sustainability and user retention, Ryde+ is expected to play a pivotal role in the company's continued growth in Singapore.
With millions observing Ramadan globally, Ryde is proud to stand in solidarity with the values of compassion, giving and community.We take this opportunity to wish Ramadan Mubarak from all of us at Ryde. Ramadan Kareem to all who observe. Selamat Hari Raya Aidilfitri.
For more information, visit www.rydesharing.com or download the Ryde app.
About Ryde Group Ltd
Ryde, a homegrown super mobility app founded in Singapore, is the world's FIRST on-demand carpooling app since 2014! As a publicly listed company on the NYSE, we are reimagining the way people and goods move around. We offer a full suite of services, including carpooling, private hire, taxi, and delivery, but what truly sets us apart is our commitment to empower our private-hire and taxi partners. We take 0% commission, ensuring that more of every hard-earned dollar goes to drivers on our platform. For more information, please visit https://rydesharing.com/ to learn more.
Contacts
For Media Relations:
Media Team
Ryde Group Ltd
Email: [email protected]
For Investor Relations:
Investor Relations Team
Ryde Group Ltd
Email: [email protected]
FORWARD-LOOKING STATEMENTS
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors . Any forward-looking statements contained in this press release speak only as of the date hereof, and Ryde Group Ltd specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Ryde Group
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E.Persson--RTC
