Peak time charges, per minute ride time charges etc. There are so many new terms need to be not just known but to be understood well before you book a cab in India. The term ‘ surge pricing’ has been in the news most recently and let’s get to know what it its
Here’s what Ola Says
There are times when demand is ahead of us. Every day, thousands of customers onboard the Ola platform and choose a new travel lifestyle. It is our intention to link the maximum number of customers with the ride of their choice- even at the busiest hours. In order to create more availability in times of increased demand, we’ve introduced a peak hour pricing.
Reference – http://blog.olacabs.com/peak-hour-surcharge-the-what-why-and-how-of-it/
And the Uber’s definition
Uber’s job is to bring efficiency to the world of car service. Surge pricing allows us to maximize the number of cars on the road and ultimately provide you with a reliable ride back home at the end of the night.
Reference – https://newsroom.uber.com/clear-and-straight-forward-surge-pricing/
Other Reference – http://uberestimator.com/uber-surge-pricing
Know More – http://petch.xyz/search/Surge%20pricing/1