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TADA ride-hailing service arrives in Vietnam

Released at: 11:17, 23/01/2019

TADA ride-hailing service arrives in Vietnam

Mr. Kay Woo, CEO of MVL at the press conference (Photo: MVL)

TADA expanding from Singapore and Cambodia to Vietnam.

by Minh Do

MVL officially launched the zero-commission ride-hailing service TADA on January 22 in Ho Chi Minh City.

TADA is the first zero-commission ride-hailing service in Vietnam. With transactions made using bank cards, drivers directly pay fees set by the bank but not exceeding 5 per cent.

Vietnam is considered a market with high growth potential in the mobility industry. The company does not charge drivers a commission for using TADA and MVL platforms in Vietnam, as it doesn’t in Singapore and Cambodia. In this way it can maintain service quality and let drivers earn more. As TADA Singapore has received good reviews from drivers and passengers, MVL looks forward to achieving high performance in Vietnam as well.

TADA is a ride-hailing service developed and serviced by MVL. It has grown quickly and now acts as a hub of MVL. The MVL protocol will be implemented for all brands of TADA so that MVL rapidly expands.

Founder Mr. Kay Woo said the app operates on Blockchain technology researched and developed by MVL. Sales come from B2B partners in the ecosystem, including traditional taxis, insurance companies, repair services, car trading, and monetizing these partners besides selling ads.

The app will not offer promotions to users, as many of its competitors do. “In the past six months, we only spent $50,000 of our marketing budget to attract drivers and users, while other players would have spent millions,” Mr. Woo said.

TADA has 2,000 drivers. The first market for its launch is Ho Chi Minh City and it will be expanded to Hanoi and Da Nang. Its goal is to attract 25,000 drivers this year and it has no intention of joining the two-wheeler segment in the near future.

MVL is a wholly-owned subsidiary of easi6 and is a Singaporean private limited company. Over the past four years, it has acquired the know-how to provide mobility O2O services to travel agencies, car rental companies, and taxis in major Asian countries such as China, Hong Kong, Taiwan, South Korea, and Vietnam.

MVL and TADA also signed MoUs with Lotte Rental and PTI Insurance, a leading Vietnamese insurance company, before entering the Vietnam market. With Lotte Rental and PTI Insurance, MVL plans to achieve its target market share in Vietnam’s mobility market.

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