Bike-sharing companies may have to pay security deposit in future

Singapore

THE Land Transport Authority (LTA) will consider requiring bike-sharing operators, which require users to pay a deposit, to themselves pay a security deposit or bond, with the introduction of licensing regulations in October this year.

Senior Minister of State for Transport Janil Puthucheary announced this in Parliament on Monday in response to questions from several MPs on the refunding of deposits for oBike users, and the recourse consumers should have when bike-sharing firms exit the industry in future.