Aug 13, 2020   SOURCE: PR NewsWire

Tryp Technologies, Inc. announced the launch today of its TripDelivers restaurants & grocery services to open 36 markets in 21 States

LAS VEGAS, Aug. 13, 2020 /PRNewswire/ -- Tryp Technologies, Inc, DBA TripRides & TripDelivers. TripDelivers, a low cost provider to the restaurant mobile food ordering delivery business, is launching initially in 36 markets around the US with its delivery services.

Tryp Technologies, Inc. is a rideshare company entering the marketplace with a unique SaaS business model, a key aspect of which is that all independent driver owner operators earn 100% of the ride fare. The ride fare includes time and distance, wait time, cancellation fee, in addition to 100% of the tip. The company also provides the riders, customers and driver with identical receipts, so there is 100% fare transparency. "Pro Drivers" will pay $99.99 monthly for unlimited rides / deliveries and "Side Hustle Drivers" pay a low $39.99 monthly for up to 75 rides / deliveries. The drivers control their payments and earnings as the rideshare funds are sent directly to them via their own merchant ID account.

Lisa Storie, SVP TripDelivers, said 'We are well positioned with our business model to take marketshare in the restaurant / groceries pickup and delivery services.'

TripRides' unique "all in one" app will put more money in the Driver's pocket due to its driver centric business model. The app will serve both the rideshare industry with "TripRides" as well as "TripDelivers" which focuses on restaurant / grocery pickup and delivery services."

TripDelivers will enter the market through restaurant / grocery delivery and pickup channels. Upon launch, TripDelivers will have more than 500,000 restaurants as a reference in its app. The company also expects to garner substantial interest from restaurant partners, due to policies that separate it from the competition; 1) Restaurants will receive direct payment of monies earned which will reduce the payment timeframe, and 2) TripDelivers has a NO menu mark up policy that does not gouge either the Restaurant or Customer through "menu-pricing markup", a common practice largely unknown to consumers.

Menu pricing markup has been a point of contention with restaurant owners, because they see it as a form of double dipping. In menu pricing markup the delivery companies not only charge restaurants a whopping 10-40+ percent of the customers' total bill, but they also mark up the restaurants' menu items and pass that markup along to consumers. Consumers are then stuck with a much higher bill and restaurants with a much lower profit margin. "70% of consumers say they'd rather order directly from a restaurant, preferring that their money goes straight to the restaurant and not a third party," according to upserve.com.*

For years, restaurants have been at the mercy of delivery service companies who gouge not only them, but also consumers and drivers. Instead of gouging, TripDelivers' business model for restaurants is a simple $2 flat delivery fee for member restaurants or $3 flat delivery fee for non-member restaurants.

TripDelivers' very simple model for restaurant pickups is a refreshing change to the nickel-and-dime-type plans at other companies: For pick ups, restaurants only pay a low flat fee. The driver will keep 100% of the customer-paid pick up fee, plus 100% of the tip.

Other features and benefits include No Surge Pricing Ever, No Menu Mark Up Ever for consumers or restaurants, Pick Your Driver, referral commissions, and independent owner merchant accounts for drivers and restaurants.

The restaurant and grocery pick up and delivery business in the US could exceed $100 billion annually. The restaurant and grocery business total revenues across United States are in excess of $1.6 trillion annually.

TripRides is poised to make a strong entrance with its current roster of over 100,000+ drivers and riders in the following markets:


     Miami / Ft Lauderdale 
     Las Vegas         
     Tucson        
     Salt Lake City



     Atlanta               
     Seattle           
     San Diego     
     Tampa



     Houston               
     Orange County     
     Inland Empire 
     Oakland



     NYC                   
     S Fernando Valley 
     Boston        
     Silicon Valley



     Los Angeles           
     Chicago           
     Portland      
     San Francisco



     Orlando               
     Dallas            
     Philadelphia  
     Nashville



     West Palm Beach       
     Phoenix           
     New Orleans   
     Jacksonville



     DC/Baltimore          
     New Jersey        
     Minneapolis   
     Honolulu



     Sacramento            
     Baton Rouge       
     Reston, VA    
     Sarasota

Company Mission Statement: TripRides & TripDelivers will be the premier low-cost provider in the marketplace. PERIOD.

Going Places. Doing Good.

CONTACT:
About Tryp Technologies, Inc.
Based in Las Vegas, Nevada, Tryp Technologies Inc. The Company is marketing its unique brand and its SaaS low monthly-subscription-based model direct to drivers coast-to-coast.

Safe Harbor: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Tryp Technologies, Inc its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Tryp Technologies, Inc. ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Tryp Technologies Inc. filings with the OTC Markets, Securities and Exchange Commission and/or the Company's website.

CONTACT:
Tryp Technologies, Inc. Corporate:
Online: tryprides.com tripdelivers.com triprides.io triprides.app
Facebook: facebook.com/tryprides
Instagram: @triprideshare @tripdelivers
Twitter: @tryprides

Investor Relations Contact: investorrelations@tryprides.com

* https://upserve.com/restaurant-insider/online-ordering-statistics/

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SOURCE Tryp Technologies, Inc