SINGAPORE (June 29): Mobike is renouncing its one-time deposit of $49 for its existing and new users in Singapore, specifically those who register or have registered for a Mobike account using phone numbers with the prefix +65.

To get a deposit refund, users may log into the Mobike mobile app and select the “Refund” button located on the lower page of “My Wallet”.

The actual credit of $49 will be transferred into the user’s account within 10 working days.

In a press statement on Friday, the Chinese bike sharing platform reassures existing Mobike riders that upon the request for the refund, they can continue to enjoy the same services without any disruption to the Mobike mobile app and the smart bikes.

The company says its decision to free riders from a deposit was based on its data-driven analysis from its built-in Internet of Things (IoT) technology, which has determined that its smart bikes are “widely-used consciously” in Singapore such that there is no longer a need for the deposit to “encourage proper use” of the bikes.

Sharon Meng, country manager of Mobike Singapore, says the firm is fully prepared to work with local authorities and will continue investing in technologies to improve its services. 

“With regards to deposits, Mobike guarantees that the user’s deposit is safe and available for a full refund anytime. We are also thankful to the local authorities for their support for user education and improving infrastructure… We are confident that our riders in Singapore enjoy and benefit from the convenient, affordable and sustainable mobility offered by Mobike,” says Meng.

Mobike’s announcement comes amid the fiasco faced by its rival oBike, which abruptly announced its exit from the Singapore market earlier this week. The refund button from oBike’s mobile app was removed, leaving the platform’s customers in a pickle over the $49 and $19 (for students) deposits which they paid to register for an account.

Disgruntled oBike customers seeking refunds for their deposits were reported to have been referred to the Customers Association of Singapore (CASE), while the Land Transport Authority (LTA) has issued a statement instructing oBike to remove its bicycles from public spaces by the deadline of July 4.