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Google-owned maps app Waze has introduced ‘Waze Local’ to allow small businesses to buy advertising.

The local maps will feature three ad units namely branded pin, promoted search and zero-speed tracker which will appear on the top third of the user's screen.

The branded pin will provide additional information to users on clicking, promoted search will give priority rankings to advertise in a search context by including brand logo and zero-speed takeover is a banner which appears during traffic stops.

There are also two primary offerings that feature different pricing for different segments that is starter and plus. Starter is for businesses with fewer than 10 locations and costs $2 per day.

Plus is for businesses with up to 50 locations (e.g., franchises and regional chains) and cost $100 per day. There’s also an enterprise offering for companies with more than 50 locations.

Waze executive Matt Philips told CNBC: "Our target market is truly local businesses — any business that has a store sign in front. We've tested with restaurants and hardware stores, shoppings malls and movie theaters."