With Uber in Southeast Asia having merged with Grab, it effectively gave Grab a monopoly over the ride-sharing and ride-hailing market in the Philippines. Now Grab is about to get some competition after two new players are about to enter the market after a meeting with the Land Transportation Franchising & Regulatory Board.
The LTFRB has just accredited two new transport network companies (TNCs) yesterday, April 18: Hype Transport Systems, Inc. and HirNa Mobility Solutions, Inc. The accreditation for both companies will be effective for two years from the date of its approval.
According to LTFRB Chairman Martin Delgra III, other companies who would like to be accredited to be a TNC have yet to comply with the requirements. That said, expect more ride-sharing companies to enter to market apart from Grab and the two new companies.
Chairman Delgra also said that he would like to fast-track the approval of these new ride-sharing market players to give more options to the riding public.
Now that are two new accredited ride-sharing and ride-hailing apps, its only a matter of choosing which one to use. So, which one will you be using?