Malta’s ride-hailing sector is rapidly growing, with recent data showing the country handles around 55,000 trips per day across platforms such as Bolt, Uber and eCabs.

If each ride is valued at an average of €10, multiplied by the number of days in a year, this translates into annual revenues exceeding €200 million.

The calculation highlights just how significant the industry has become in Malta’s transport ecosystem, supporting thousands of drivers and forming a major part of the mobility market.

However, concerns remain over the way part of the business is conducted. Reports seen by this newsroom indicate that over one-third of ride-hailing payments are still made in cash, a practice that some experts warn could be exploited for money laundering or tax evasion.

Regulators say switching to digital payments would improve transparency, simplify oversight and reduce the risk of financial abuse, since cash transactions lead to "less transparency and more compliance challenges," coupled with an increase in "theft and management risks."

Industry insiders note that Malta’s ride-hailing market has expanded rapidly since eCabs launched in 2010, followed by the arrival of platforms like Bolt and Uber. The surge in daily trips reflects both the convenience of ride-hailing services and the growing reliance on on-demand transport.

With reforms currently being finalised, including measures to phase out cash payments and enforce stricter compliance rules, authorities are now aiming to ensure that Malta’s booming ride-hailing industry remains safe, fair and financially transparent.

The reforms also introduce dress codes for Y-plate drivers, stricter working-hour limits, an end to the ‘50/50’ rent-sharing model and higher fees for ride-hailing platforms.