Uber’s Price-Lock Pass to Rival Lyft’s Popular Feature in the UK Market

Uber Technologies Inc. is working on a new paid feature called the “price lock pass,” which would allow commuters to lock in prices for frequent rides ahead of time. The feature is designed to compete with a similar offering launched by Uber's biggest rival, Lyft, five months ago. According to a review of Uber’s iPhone app code by Bloomberg News, the price lock pass will let users purchase a $2.99 monthly pass, capping the price of a designated route for a one-hour window each day.

Details of the Price-Lock Pass

The price lock pass aims to help users avoid the sudden price increases that occur during peak hours, commonly known as "surge pricing." The feature will provide users with the ability to lock in a set price for UberX rides, guaranteeing that they pay either the same or a lower fare during the locked-in period. It could help commuters save up to $50 a month by locking in fares at consistent prices. An FAQ page for the product is live on Uber’s website but currently does not provide further details.

Uber’s Strategy to Counter Declining Ride Bookings

Uber has faced a slowdown in ride bookings, particularly in the U.S. market, which has put pressure on its core mobility unit. The introduction of the price-lock feature could provide the company with a new revenue stream. While the feature has not been officially confirmed, the engineering work done thus far suggests that Uber is seriously considering launching the service. The company has also experienced a rise in weekday bookings, largely driven by demand from business customers. Uber’s Chief Executive Officer Dara Khosrowshahi has mentioned that weekday bookings have become a crucial segment as consumers are now more selective about their weekend rides.

Lyft's Similar Offering

Lyft, Uber’s primary competitor in the UK, launched a similar "price lock" feature in August 2024. The feature has been well received by riders, and Lyft reported that nearly half of its weekday rides in the third quarter came from commuters using the feature. Lyft's price lock offering is priced at $2.99 per month, with savings capped at $40 per month per pass. The feature has been popular, and by the end of September, Lyft had over 200,000 active price lock passes. The company also allows users to purchase up to 10 passes, though it remains unclear whether Uber will offer a similar option for multiple passes.

Comments on the Feature

An Uber spokesperson stated:

"An Uber spokesperson declined to comment on the code findings."

Uber’s decision to introduce a price-lock pass reflects its ongoing efforts to innovate in response to the challenges it faces in the competitive UK ride-sharing market.