Ride-hailing services are now commonly used by a wide range of consumers. However, it is not commonly known that the two leading ride-hailing services, Uber and Lyft, have yet to become profitable. Both companies are taking major steps to make change that.
Last year saw the introduction of loyalty programs for each brand. Nothing had previously stopped riders from downloading each app, selecting a destination, and then opting for whichever service offered the same ride for cheaper. Rewards programs gave riders an incentive to pick....