Lyft launches new cash payment option for passengers

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STATEN ISLAND, NY — For the millions of Americans who rely on cash as their primary method of payment, booking a rideshare just got a whole lot easier.

On Wednesday, Lyft announced the launch of a new cash payment option, which allows customers to add Lyft Cash to their accounts at more than 35,000 outlets nationwide, including Walmart, Walgreens, Family Dollar , ACE Cash Express, Kroger Family of Stores, and more.

“Lyft is committed to ensuring that more people have access to affordable and reliable transportation, and we can help achieve this by expanding payment methods for our services. We know that cash is the primary form of payment for many people, and we hope this will help people get to where they need to go more easily,” said Kaushik Subramanian, Vice President of Platforms at company at Lyft.

To add funds to their accounts, customers can click the “Payment tab” in their Lyft app, click “Add Money,” then tap “Find a Store” to discover participating locations at proximity.

Upon arrival, customers show the cashier a barcode or unique code available in their Lyft app to add funds to their account.

A minimum of $30 must be added at a time to ensure passengers have enough funds to complete their next ride.

If the user’s Lyft account doesn’t have other payment methods linked besides Lyft Cash, they’ll be asked to submit a photo of their ID before their next ride. Users will only need to perform this step once.

If the user’s Lyft account is already associated with another payment method, such as a credit card, they will not be required to submit their ID.

Those who wish to book a bike or scooter ride through the Lyft app using Lyft Cash must have another payment method linked to their account in addition to Lyft Cash.

According to the 2019 Federal Deposit Insurance Corporation (FDIC), the new payment method is expected to improve transportation access for more than seven million U.S. households who are unbanked or have limited access to traditional financial services, many of whom reside in communities of color. report.

“We’re thrilled that Lyft is working to expand transportation accessibility across the country, especially for the cash-preferred and unbanked population who have often faced barriers when it comes to getting there. where she needs to go,” said Antoine Holman, NAACP. Vice President of Corporate Relations.

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