Lyft is rolling out a brand new worth lock function that caps the price of rides, in an try to resolve the issue of value unpredictability for individuals who depend on the platform for each day commutes. The corporate says this instrument will even work throughout peak hours, when rides are normally at their most costly. There are, nevertheless, some caveats.

To start with, there’s a required month-to-month subscription worth to make use of this service, although it’s solely $3 per thirty days. There’s additionally a curious lack of particulars relating to how precisely the cap works. Does it simply common previous rides and exclude peak pricing? Is there a restrict to only how a lot may be capped? We reached out to Lyft and can replace this submit if we hear something.

One factor is definite. Lyft is planning on this function being successful. It has instructed that commuters will take 40 % extra rides as soon as the value lock instrument turns into commonplace. Nonetheless, it is value noting that Lyft is the one which units the costs within the first place, so it prompted the instability that this instrument units out to resolve.

There’s additionally a promotion to promote the value lock mechanism: 100 prospects who’re beginning new jobs will obtain free “first day” rides. This shall be dealt with by way of LinkedIn. Simply 100 rides? That appears fairly stingy for a corporation as giant as Lyft, however what do I do know?

This isn’t the primary time Lyft has tried its hand at a subscription-based service. The corporate’s Pink subscription service has been an on-again/off-again factor for years. This is kind of a bundle of add-ons at this level. Pink stopped providing experience reductions however started providing perks like free precedence pickups and three free cancellations per thirty days. This program remains to be dwell, at $10 per thirty days or $100 per yr.