To use the cash option, riders present a barcode or unique ID number from the Lyft app to add cash to their Lyft Cash balance, which can then be used to book rides from a user’s Lyft account. There are no added fees or charges, according to a press release on Wednesday (June 22).
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“Lyft is committed to making sure more people have access to affordable, reliable transportation, and we can help achieve that by expanding payment methods for our services,” said Kaushik Subramanian, vice president of enterprise platforms at Lyft. “We know cash is the primary form of payment for many people, and we hope this helps people get where they need to go more easily.”
A minimum of $30 is required to purchase Lyft Cash, and bike and scooter riders need an additional alternative payment method attached to their account.
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Antoine Holman, NAACP vice president of corporate relations, said expanding access to transportation is important across the country, especially for the “cash-preferred and unbanked population” who have frequently been met with “roadblocks when it comes to getting where they need to go.”
Read more: Lyft CEO Sees ‘Third Chapter’ as All About the Network
As Lyft turned 10 years old, president John Zimmer looked to the future during this year’s first-quarter earnings call last month. He said this fiscal year is about completing Lyft’s network and connecting almost everything transportation — rideshare, bikes, scooters, rentals, transit and even personal vehicles.
