How dynamic pricing worksFundamentally, Uber and Lyft charge roughly the same rates: Riders pay a fare based on the duration and distance of a ride. Uber calls its practice surge pricing, and Lyft’s version is labeled Prime Time. In the past, when Uber fares “surged,” the app showed a multiplier — for example, 3X, meaning the fare was triple the normal cost. When prices surge now, Uber does not show a multiplier and instead quotes only the higher price up front. Rewards and loyalty programsLike airlines that reward loyal customers, Uber and Lyft offer some goodies to frequent riders.

Source: New York Times April 17, 2019 13:00 UTC