Hoping to retain more drivers, Lyft has announced a series of financial services for its freelancers - incuding no-fee bank accounts, debit cards, vehicle maintenance, and deals on rental cars.
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Lyft wants to offer financial services to drivers
It’s a way for Lyft to help drivers save money without actually increasing fares (which could drive down demand) or decreasing the percentage of each payment Lyft takes for itself (which would reduce its revenue). And like most driver-focused announcements from ride-hail companies, it’s intended to encourage drivers to quit app-switching and just pick a side. “Our primary aim,” said Jon McNeill, Lyft’s chief operating officer, “is to increase [driver] pay and for us to become the platform of choice for drivers.”
