VERIFARE - Fair Ride Pricing

Home Screen
How it works
Compare Prices
Pricing Tool
Example 1 - High Demand Routes
Example 1 - Intelligent Adjustments
Example 2 - Very Popular Route
Example 2 - Transparent Pricing
Charts
Savings
Live Pricing
Optimise

Inspiration

Ride sharing platforms globally and in India, followed similar market penetration strategies when they entered and created the ride-sharing market. Initially backed by funding, they offered very low-cost rides to customers. Drivers barely made money, with low commissions, but they had continuous rides. The underlying hope was that prices and driver returns would increase over time. However, this proved to been unsustainable cost and pricing model. The whole system feels broken because there's no transparency. You never really know why you're paying what you're paying.

This is the inspiration for us to

Develop a transparent pricing application
Create a dynamic, fair pricing model
Balance interests of all stakeholders
Provide predictable, understandable ride costs

What it does

It brings transparency in the ride cost. How?

Intelligent Pricing Calculator This calculates the Base fare which includes the distance, fuel and other mandatory cost, and does intelligent adjustments based on historical data and dynamic data on the specific day.

Complete Transparency System Unlike the surge pricing in the existing platforms, we fix the surge at a specific %. But the intelligence brings in the dynamic aspects which has to be catered on each request. But the distinction is we are transparent to spell out in the bill.

** Route Intelligence Engine** Route Demand Adjustments - This has various parameters which includes traffic condition on that day, festival time rush, VIP movements etc. and many more. Popular bidirectional routes get price reductions - This is a major factor for drivers, and they are compensated based on the availability of return trips on that route.

How we built it

React, Type Script, Tailwind CSS

Challenges we ran into

How to balance the cost while we cap the surge at specific %
Unable to capture every possible problem and solution within the scope of this project as the problems and solutions are more localized. We are providing a flexible framework that can be highly and dynamically customized.