Two additional services will be going up against Grab
Grab will be facing two new competitors in the Philippines as the Land Transportation Franchising and Regulatory Board (LTFRB) approved the accreditation of two new transport network companies yesterday. Hype Transport Systems Inc. and HirNa Mobility Solutions Inc. can now start their operations anytime, thanks to the order signed by the government agency.
Both companies’ accreditation will last for two years, and will be up for renewal on April 2020. Hype’s business model is similar to Grab and Uber, and will use private partners to ferry passengers. HirNa meanwhile, will use taxis for conveyance.
While Grab technically has a competitor in Uhop, the company is running a virtual monopoly thanks to its size and reach after it absorbed Uber in a merger earlier this month.
Since then Grab has faced a number of complaints from passengers over picky drivers, as well as increased fares compared to when Uber was operating.