- Lyft (NASDAQ:LYFT) has launched Lyft Pass, a program that allows companies to pay for its employees’ rides, Yahoo Finance reported.
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- The custom transportation program for businesses and organizations and is being offered by Lyft Business. The launch of the program comes as companies and organizations are figuring out when to send their workers back to the workplace safely.
- The program allows for organizations to cover the costs of rides for employees, essential workers, customers or guests. It also helps them helps to customize their rules, such as drop off and pick-up locations, the times of day, also the types of rides.
- It is also aimed at keeping budget under control. So this is an expansion of Lyft’s B2B segment, and it’s really addressing the need during this time of the pandemic for businesses and organizations to manage their own ride programs in a safe way.
- Lyft has also mentioned that at the onset of the pandemic it had partnered with medical centers to get essential workers to and from work. It also mentioned Kroger (NYSE:KR) as a partner. So far in 2020, the company said it is helping more than 200,000 employees get to and from work across the country.
- InvestorPlace contributor Wayne Duggan earlier this month wrote that “Lyft is eating away at Uber’s (NYSE:UBER) ride-sharing market share. It’s also competing with Uber to be the first to reach profitability.”
