How Are Paytechs Impacting the Growing e-Bike Market?

The growing concern surrounding climate change and sustainability around the world has led many to modify their means of travel, with cycling being one of the most popular environmentally friendly ways of travel. However, for e-bikes to run smoothly, the propulsion system must be very efficient. This, in turn, will encourage people to use environmentally friendly transportation. Here we examine how different regions around the world are adapting to this.

In terms of volume, the Asia-Pacific region accounted for nearly 88 percent of the market in 2020. In terms of value, Europe holds 39 percent of the market share, led by Germany, France and Italy. Europe’s large share despite the large volume sold in Asia likely indicates not only the growing popularity of e-bike commuting but also the massive increase in eMTBs in European countries.

Middle East and Africa

Although the greater Middle East has a young, digitally savvy population – with smartphone penetration reaching 80 to 90 per cent in leading markets – the region has remained highly cash-dependent. About a third of retail transactions are conducted electronically only, due to factors such as underdeveloped digital payments infrastructure and services, underbanked consumer and merchant sectors, and a cultural bias toward cash.

Thus, increasing payment options is necessary to allow more people to share in the benefits of affordable electric mobility, and to unleash urban potential through financial inclusion. raised this PhoenixFENIX Pay, the electric mobility and delivery platform, to create an end-to-end payments service.

FENIX Pay provides users with a range of options to pay for FENIX services including via credit cards, debit cards, mobile/telecom credit, Apple Pay and local digital wallets.

Commenting on the impact of FENIX Pay, Jadeep dhanwaCo-Founder and CEO of FENIX, “Mobility is a way to reach an end and is possible or specific to get where you want to be, to do what you want to do, to reach your potential. When we started FENIX, we focused on mobility as the number one area where we can make a difference. Soon It is becoming clear that financial inclusion is another major determinant in today’s economy The Middle East is a diverse region with large income distributions There are many people who could benefit and want to use our electronic mobility and delivery services but could not just because they do not have a card Credit. Mobile payments in the region are failing in these sectors. So we started building our own payments platform called FENIX Pay so that we can remove this limiter and provide financial freedom for anyone to pay the way they want.”

To serve underbanked customers, the company focused on where those consumers already had a stored value balance and identified direct carrier billing with telecom operators as an ideal channel. In the UAE and Turkey, anyone with a smartphone will be able to pay for FENIX services through direct integration with two leading national telecom companies in the UAE – Etisalat and Du – and three leading telecom providers in Turkey – Turkcell, Vodafone and Turk Telecom. Later this quarter, FENIX Pay will also be integrated with leading telecom operators Mobily in Saudi Arabia and with Batelco in Bahrain. The payments platform also includes seamless payments using Apple Pay across the region.

IQ masterCo-Founder and CTO of FENIX: “Innovation in creating impact is in our DNA. We realized that in order to achieve our mission, we needed to address the payments barrier in our region. As the only integrated platform for electric mobility and delivery focused on the Middle East, we feel obligated to invest in local payments so that all of our customers can share the benefits of convenient and affordable mobility We have some of the most compelling use cases for omnichannel payments There is still much to be done but we are very excited to lead this effort in our region and explore how we can achieve greater inclusion Financial with FENIX Pay”.

Europe

With the global e-bike market growing at a very steady pace and set to reach $120 billion by 2030 according to Vision Search Reports, employees from all industries see how they can implement an environmentally friendly method of transportation. With this in mind HumanForestA London-based company that offers sustainable and affordable shared e-bikes across London, has announced a new partnership with food delivery company Unicorn. Deliveroo, a food delivery service, to provide delivery passengers with access to sustainable transportation in the UK’s capital.

The association advances HumanForest’s vision to transform the way people and businesses can access clean, green, shared mobility solutions.

A new and innovative payment model has created the most affordable and accessible e-bike solution in the capital for last-mile pick-up and drop-off riders. Deliveroo riders will be able to access the green e-bike platform by purchasing packages of minutes when they need them, to make deliveries or for entertainment, and address the initial costs of purchasing electric bikes privately.

During the lockdown, home delivery services have seen a huge rise in popularity. It is hoped that the partnership will allow more businesses and consumers to take sustainable journeys around the capital, providing an environmentally friendly mobility solution.

Lura elmHumanForest’s Head of Sales and Partnerships said: “This is a huge support for HumanForest and a really important moment for Deliveroo riders. This partnership is designed with delivery riders front and center, making access to affordable e-bikes a reality for them. The partnership will provide a sustainable platform and accessible supports delivery passengers while furthering our vision of a cleaner and greener world for all. We are pleased to work with Deliveroo and look forward to helping them achieve their sustainability goals.”

Asia

Deliveroo Singapore also made an announcement, saying it would sponsor up to 50 per cent of the cost of a new powered bicycle (PAB) to ease the financial burden for 200 riders looking to upgrade their vehicles. The program will enable pedestrians and cyclists to convert their delivery method to electric bikes so that they can increase their profits by making more deliveries in a shorter time.

Deliveroo said in its statement that the program is in line with Singapore’s vision to make all vehicles run on cleaner energy by 2040.

pleasant tanGeneral Manager, Deliveroo Singapore, said: “Depending on the model and specifications, vehicles such as powered bikes can be very expensive and cost between $700 and $1800. We hope that with this new support system we can help Deliveroo passengers lighten their burdens. Finance and earn more within an hour by fulfilling more deliveries.”

When looking at the Asian e-bike market as a whole, the number of electric bike makers in China underscores the potential of this sector. according to Bloomberg, government data showed that there were about 51,600 e-bike manufacturers registered in China in 2020, up 83 percent from 2019. There were 223,000 companies in business related to the electric bike industry as of February 2021.

  • Frances Bennell

    Francis is a junior journalist with a BA in Classical Civilization, with a special interest in North and South America.

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