SG Bike to exit bicycle-sharing market after nearly 7 years; user accounts to be transferred to Anywheel

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SINGAPORE: With the transfer of SG Bike’s user accounts to Anywheel expected by the end of April, the native bicycle-sharing company is exiting the industry after almost seven years.

This move may successfully create homemade company Anywheel, when a rival of SG Bike, the largest player. &nbsp,

Users of SG Bike will be able to switch their current budget balance to the Anywheel platform in accordance with an agreement between the two companies. &nbsp,

Both companies said in a joint statement on Thursday ( Mar 21 ) that Anywheel ride only credits cannot be used for ride coupons, Anywheel passes, or merchandise. &nbsp,

This design comes as SG Bike has decided against renewing its license because it will expire on April 30 due to a” proper shift in business way.”

This agreement between Anywheel and SG Bike was made with the best interests of their users in mind, according to both users to ensure the stability and dependability of bike-sharing solutions and to minimize disruption to its clients in Singapore. &nbsp,

Starting on Thursday, SG Bike may quit accepting new sign-ups, fresh credit top-ups, and purchases of passes.

By May 3 for all SG Bike users, a notification on the Anywheel website states that they will have their budget balance reflected in the Anywheel software and that no further action will be required. &nbsp,

Those with S$ 0 or more in their budget does opt- in earlier for a S$ 10 ride- just credit incentive. By May 3 or earlier, according to the business, people who do so may view their budget balance displayed on the Anywheel game.

According to the statement, exchanges and converters can only be performed using the same documented or linked telephone number. &nbsp,

Clients of SG Bike who want to change their mind about the change can do so online. A payment has not been offered.

” We greatly encourage users to initiate automatic or early conversions for additional incentives.” The change will never occur if they choose to opt out, and their finances balance will be on the SG Bike application. In such a case, the treatment of the budget balance did following existing terms and conditions”, said an SG Bike director. &nbsp,

” Following, SG Bike will also be clearing all our bicycles off the streets for scrapping”.