Bike rental firm trying a new method to make money

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Short-term bike rental has become a big business in a large number of markets around the world. One of the biggest operators in the bike rental market is Chinese company Ofo. From its start in Beijing, Ofo branched out to offer bike rentals in Europe and the US. Ofo is a stand-free, or dockless, service. Customers use an app on their smartphones to locate nearby bicycles. Scanning a QR code on the frame unlocks the bike. When riders are done, they can leave the bike anywhere and walk away. Springwise has covered similar bike rental schemes, such as e-bike rental…

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