Beijing-based bicycle-sharing platform Ofo launched its services in India on Monday in partnership with e-payment service Paytm. The pilot services will begin in Chennai, Coimbatore, Indore, Ahmedabad, Bengaluru, New Delhi and Pune.
The Chinese firm has also signed a MoU with the Municipal Corporations of Pune and Coimbatore for the same, according to a press release. Initially, the service is being offered on a pilot basis on specific campuses and closed communities.
Ofo’s bicycle-sharing system requires no fixed docking stations and thus provides significant flexibility for users to find and return bicycles through a mobile app. According to a press release, the app can support 3.2 crore daily rides in India and has partnered with Paytm to ensure seamless transaction.
Rajarshi Sahai, Director of Public Policy & Communications, Ofo, said in the release that with overcrowded cities and unprecedented pollution levels, India is ripe for a cycling revolution, which is a greener and healthier alternative to motor vehicles.
“Through these localised launches, we look forward to providing people with a taste of an ‘easy-to-use’ bicycle-sharing experience and educate them about various benefits associated with cycling,” he added.
Kiran Vasireddy, Chief Operating Officer – Paytm, said in the statement: “We are excited to partner with Ofo to power seamless mobile payments for its bike sharing service in India.”
Ofo was founded in 2014 and has operations in over 250 cities across 20 countries. In July 2017, ofo completed Series E funding of $700 million, becoming the world’s biggest and most valued bicycle-sharing company.