Bike-sharing companies may have to pay security deposit in future
Tue, Jul 10, 2018 - 5:50 AM
oBike announced abruptly that it was closing here two weeks ago, leaving its 100,000 users wondering what would happen to their deposits; oBike chairman Shi Yi has put the sum total of the deposits at about S$6.3 million.
BT PHOTO: YEN MENG JIIN
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.