Business, Gadgets & Electronics, Internet

China's Ofo Reaches Cooperation With Dutch Payment Company

Chinese shared bike company Ofo announced a deal with Adyen BV, a payment technology company in the Neteherlands.

With the cooperation, Ofo's users will be able to enjoy bike riding in markets covered by Adyen by using a single set of payment information. The cooperation does not include the Chinese market, where Alipay and WeChat payment dominate the Internet payment sector.

Ofo plans to enter 20 countries and deploy in 200 cities by the end of 2017. So far, it has only reached 150 cities in five countries.

According to Zhang Yanqi, chief operating officer of Ofo, the company has implemented bike testing in different cities along the eastern and western coasts of America and they are discussing with local government authorities in more areas. Over the next month, Ofo plans to officially launch its services in several American cities. Ofo's competitors will include the local company Motivate, which already runs businesses in nine American metropolises.

The cooperation with Ofo will also help Adyen's international business expansion. Ofo runs 6.5 million bikes and it processes over 25 million transactions on a daily basis. Earlier this month, the Chinese company closed a financing round that raised over USD700 million.

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