Fare Co-op, the driver-owned, city-managed rideshare platform, today announced the launch of Platform 2.0 in partnership with HUB Cyber Security Ltd. (Nasdaq: HUBC) (“HUB”). This update introduces SecureRide™, a proprietary protocol that utilizes real-time, perpetual verification for both drivers and riders. This creates the first continuously validated trust environment in the mobility industry, significantly reducing insurance risks and operating costs.
While traditional rideshare platforms rely on annual background checks that provide only a snapshot of safety – resulting in a report of sexual harassment submitted every 8 minutes in the USA, according to https://every8minutes.com/ – Fare Co-op’s Platform 2.0 offers Perpetual Know Your Driver (KYD) and Know Your Customer (KYC) system, which continuously monitors identity and safety signals, ensuring that the person behind the wheel and the person in the passenger seat are verified in real-time.
The World’s First SecureRide™ establishes a new baseline for industry safety by combining perpetual vetting with mandatory dashcams in all participating vehicles. The system addresses critical gaps in the current rideshare model, where risks often go undetected between periodic screening cycles.
Real-Time Verification Capabilities:
● Motor Vehicle Records (MVR): Instant monitoring of license status, violations, and driving eligibility.
● Criminal & Sex Offender Registries: Continuous cross-checking against national and local databases.
● Global Watchlists: Screening against OFAC, UN, and EU sanction lists.
“We are proud to launch this partnership, which significantly strengthens security for everyone in the vehicle,” said Ahmed Attia, Chairman & Co-founder of Fare Co-op. “Fare Co-op pioneered the driver-ownership model to ensure economic inclusion. With this launch, we are prioritizing the physical safety of the drivers who built this ecosystem and the customers whose trust fuels it. We are making real-time accountability the new golden standard.”
Platform 2.0: A Redesigned User Experience
Beyond security, the Fare Co-op Platform 2.0 app release this month offers a redesigned interface and expanded functionality for Fare Co-op’s decentralized, driver-led network. New features include:
● Ride Bidding & Dynamic Pricing: Enhanced flexibility for longer trips.
● Advanced Preferences: Preferred driver gender selection and favorite driver lists.
● Social Connectivity: Deep-link referral systems and in-app money/credit transfers.
Strategic Impact
The enhanced verification framework is designed to lower insurance premiums by reducing claims exposure, allowing Fare Co-op to position SecureRide™ as a premium service at an affordable price point.
“This is more than a commercial agreement; it is a commitment to public safety,” said Noah Hershcoviz, CEO of Hub Cyber Security. “By deploying Perpetual KYD and KYC with a major industry leader like Fare and its network of over 10.000 verified drivers, we have proven the solution’s scalability. We are confident this will initiate a cascading effect, compelling the wider industry to recognize real-time verification as the indispensable foundation for the future of mobility.”
