Metro Manila (CNN Philippines, April 18) — New ride-hailing app Hype will be available to the public by the middle of May, said Chief Operating Officer Jen Silan.

"It will be available probably middle of May, this will be available to the public, kasi we need to be very careful in pre-accreditation for all the TNVS (transport network vehicle service)," Silan told CNN Philippines' News Night on Wednesday.

The Land Transportation Franchising and Regulatory Board issued the Certificate of Accreditation for Hype Transport Systems, Inc. on Wednesday, which will be effective for two years.

Silan said the company will be accepting pre-qualifications and pre-accreditations for all drivers and TNVS with existing provisional authority permits, Certificates of Public Convenience, and case numbers with the LTFRB starting Monday.

She added processing for drivers will be initially done online.

Hype was among the new TNCs applying for accreditation, along with Hirna, Golag, and Ipara/Owto.

Taxi-hailing service MiCab is also applying to operate in Metro Manila.

This comes amid fears of a monopoly posed by Grab's acquisition of its ride-hailing app rival Uber.

Silan said Hype is an exclusively local, newly-formed company.

"We developed the app...because there are problems with the other transport providers and we want to address those concerns," she said.

The Hype COO also said fare prices for its services will be "very competitive" by as much as 20 to 30 percent compared to its competitor, while still providing fair revenue shares with their drivers and operators.

This comes amid growing complaints by Grab users that its fare surges have become unreasonably high. Grab has repeatedly denied this, saying it is compliant with an order from the Transportation Department.