Selected Grab riders have received an invitation from Grab to sign up for their latest product Grab FareLock Pass. If you have not received, be patient and wait for your turn.
What is the Grab Farelock Pass
The pass is a subscription-based service for Grab riders that allows them to book for trips without any surge pricing at any time of the day.
Riders pay a monthly subscription for the Grab Farelock Pass. Riders who subscribe to the Grab Farelock Pass will still see fares with surge pricing during periods of high demand at the time of booking a trip. Grab has said that they will refund the additional surge fares and refund it to subscribers. Drivers will still be paid the full fares due to them.
How much is Grab Farelock Pass subscription Fee
Grab is offering this exclusive invitation to riders at a promotional price of just $50 per month, 50% discount off the usual rate of $100.
What can it be used for
The Grab Farelock Pass can be used on many of Grab services including – JustGrab, GrabShare, GrabCar, GrabCar Premium, GrabFamily and 6-seaters. Beside riding surge-free for the entire month, Grab riders will still able to apply any valid promo/ discount code offered by Grab.
There is no capped on the amount of surge refunds.
Good deal for riders
Riders who commute around with Grab everyday should definitely sign-up for Grab Farelock Pass. It acts as a hedging tool against surge pricing at only $1.66 a day.
Who would be paying for the difference
Someone wins means someone else will be losing.
Grab bears the difference between surge price and regular price – E.g. Usual fare is $10 but the current fare is $12. Grab pays drivers the fare of $12 and charge the rider $10. Grab pays for $2 difference.
Grab assigns the trip request to drivers at non-surge fare even though fares are surging – Usual fare is $10 and current fare is $12. Grab assign the job to Driver at $10 (non-surge fare). Driver absorbs the $2 difference unknowingly. This is unlikely to happen as Drivers will not be accepting trips
Who do you think will be at the losing end of this deal? Leave a comment and discuss!