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SINGAPORE – Grab has dropped a programme offering cash advances to its drivers and riders, about three months after the Ministry of Law said it was looking into the initiative.
The Straits Times reported on the programme in November, which offered some drivers and delivery riders cash advances based on their previous earnings.
Following the report, some MPs had voiced concerns in Parliament about whether such programmes were a form of moneylending.
Grab piloted the programme in 2018. Those who took the advance could repay it from their earnings over about six months.
Grab offered advances that went as high as $8,900. No interest was charged, although there was an administrative fee that could go as high as 8 per cent of the amount advanced, according to pictures circulated among drivers and riders
A Grab spokesman said on Thursday (Feb 20) the move to drop the programme was to “explore improvements that can be made to ensure the needs of our driver- and delivery-partners are best met”.
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