Russian-owned firm says it ‘does not monetize’ ride-hailing service in PH
A screen capture from the report of the Land Transportation Franchising and Regulatory Board (LTFRB) showing unauthorized ride-hailing apps InDrive and Maxim. The report was presented during a press briefing on Friday, Jan. 27, 2023, at the LTFRB central office in Quezon City. (Photo from LTFRB)
MANILA, Philippines — Russian-owned mobile hailing app inDrive insisted on Monday that it was not currently monetizing its service in the country after being flagged by the Land Transportation Franchising and Regulatory Board (LTFRB)
According to the LTFRB, inDrive has been operating in Baguio, Bacolod, Pampanga, Cebu, Iloilo, and Cagayan de Oro without a government franchise and accreditation.
In response, the company said in a statement on Monday: “inDrive wishes to convey that the company is currently conducting market research to determine the suitability of our unique ride-hailing model for the Philippine consumers, without imposing fees of any kind. inDrive currently does not monetize within the Philippine market.”
The firm further said that it currently working on requirements to comply with the rules and regulations of government agencies.
“In parallel, after securing our compliance with the rules and regulations of the Securities and Exchange Commission and the Bureau of Internal Revenue, both in the latter part of 2022, we have also met the requirements duly established by the Land Transportation Franchising and Regulatory Board and consequently filed our application to be a duly-accredited Transportation Network Company,” the company added.
