VANCOUVER -- The City of Vancouver has issued its third ride-hailing business licence to Kabu Ride.

Receipt of a municipal business licence is the final step for a company to legally operate ride-hailing vehicles in Vancouver.

Companies must also hold a Provincial Transportation Network Service licence from the Passenger Transportation Board, which Kabu Ride received on Feb. 7.

The Hospitality Vancouver Association says the first month of ride hailing in the region has made a tremendous positive impact into the city's night-time economy.