In a significant move within Singapore’s bicycle-sharing landscape, SG Bike has announced its departure from the market after a commendable journey of nearly seven years. This exit marks the end of an era for SG Bike and heralds a new chapter for the industry, with Anywheel set to become the dominant player.
Transition to Anywheel
To ensure a seamless transition for users, SG Bike has collaborated with Anywheel to transfer user accounts by the end of April. This strategic partnership aims to maintain continuity of service for SG Bike’s loyal customer base. Users of SG Bike will have the opportunity to convert their existing wallet balances into Anywheel ride-only credits, although these credits will be restricted to rides and not applicable for purchasing ride coupons, passes, or merchandise.
SG Bike’s Strategic Shift
SG Bike’s decision not to renew its operating license, which expires on April 30, stems from a strategic reevaluation of its business direction. The company has ceased new registrations, credit top-ups, and pass purchases as of March 21, signaling the commencement of its phased withdrawal from the market.
Anywheel’s Ascendancy
With SG Bike’s exit, Anywheel is poised to capitalize on the opportunity to expand its presence and reinforce its position as a leading bicycle-sharing service provider in Singapore. The consolidation of SG Bike’s user base into Anywheel is expected to bolster Anywheel’s market share and influence.
User Transition and Future Prospects
SG Bike users can anticipate their wallet balances to be reflected in the Anywheel app by May 3, with no additional action required on their part. This user-centric approach underscores the commitment of both SG Bike and Anywheel to ensuring a smooth transition for all affected customers.
As the bicycle-sharing landscape in Singapore undergoes this significant transformation, the focus remains on providing sustainable, convenient, and accessible transportation options for residents and visitors alike. The legacy of SG Bike and the emerging prominence of Anywheel are pivotal elements in the ongoing evolution of urban mobility in Singapore.
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