Press Releases

Bike Share Toronto and Tangerine Bank partner to help move Toronto forward

Connecting Toronto residents and visitors with communities through a sustainable and efficient mode of transportation

TORONTO, ONTARIO, May 4, 2023 (Updated April 26, 2024) – Today, Deputy Mayor Jennifer McKelvie and Toronto Parking Authority President Scott Collier announced Tangerine Bank as the new Exclusive Presenting Partner of the Bike Share Toronto program.

Through this five-year partnership, Tangerine Bank will work alongside Bike Share Toronto to expand the program and support the City in achieving its TransformTO Net Zero Strategy objectives.

This exciting partnership between Bike Share Toronto and Tangerine Bank will help create simple and easy ways to move Toronto forward. The partnership will support numerous Bike Share Toronto initiatives included in its Four-Year Growth Plan:

• The addition of 380 stations and expansion of the network to all of Toronto’s 25 wards, prioritizing neighbourhoods where residents have the greatest need for access to affordable mobility options;
• Connecting more residents and visitors to transit by adding more Bike Share stations at and near transit stops to encourage multimodal travel and support active transportation for first/last mile travel;
• Actively contributing to the City’s TransformTO Net Zero Climate Action Strategy target of 75 percent of all work and school trips under five (5) km being made by walking, cycling, and transit by 2030; and
• Elevate and innovate the digital customer experience.

These important changes will help ensure equitable access to the system and enhance Bike Share Toronto’s connectivity to public transit. Tangerine Clients will receive up to 2 per cent cash back* when they select “transportation” as a reward category on their Tangerine MasterCard and use the Card to pay for Bike Share memberships and passes. In addition, Tangerine Bank will also donate one-year Bike Share Toronto memberships to unhoused youth through its community partners, Youth Without Shelter and The 519, to further improve system accessibility.

“Bike Share Toronto is an integral part of our city’s transit ecosystem,” said Jennifer McKelvie, Toronto’s Deputy Mayor. “This partnership is good news for Bike Share Toronto and good news for our city. It will help us continue to grow and improve Bike Share across our city so more and more residents and visitors are able to use the program.”

“Our number one priority at Tangerine is our customers. This partnership is an excellent example of our commitment to combine our superior digital experience and innovation together with the City of Toronto to provide a simple, affordable and sustainable approach to mobility for Torontonians and our visitors,” said Gillian Riley, President and CEO of Tangerine Bank.

“Tangerine Bank is the ideal partner for Bike Share Toronto because the bank is known for its focus on the customer, delivering industry-leading partnerships, and bringing a level of commitment and enthusiasm to each of its community programs,” said Scott Collier, President of the Toronto Parking Authority. “We are confident that this relationship will help improve the Bike Share Toronto program and allow more Torontonians to benefit from this important part of Toronto’s transportation network.

*The 2% Money-Back Rewards would be earned on Bike Share Toronto purchases until March 31, 2024, after which point they’d earn 0.5% Rewards.

About the City of Toronto

Toronto is home to more than 2.9 million people whose diversity and experiences make this great city Canada's leading economic engine and one of the world's most diverse and livable cities. As the fourth-largest city in North America, Toronto is a global leader in technology, finance, film, music, culture and innovation and consistently places at the top of international rankings due to investments championed by its government, residents and businesses. For more information, visit the City's website or follow the City on Twitter, Instagram or Facebook.

About Tangerine Bank

Tangerine Bank is a leading digital bank that delivers simplified everyday banking to Canadians. With over 2 million Clients and more than $40 billion in total assets, it’s one of Canada’s leading digital banks. Tangerine Bank offers banking that’s flexible and accessible, products and services that are innovative, fair fees and award-winning Client service. From Savings Accounts to no-fee daily Chequing, Credit Cards, GICs, RSPs, TFSAs, Mortgages, lending products and Investment Funds through its subsidiary, Tangerine Investment Funds Limited, Tangerine Bank has the everyday banking products Canadians need. Through Tangerine Project Forward™, Tangerine is committed to empowering communities through programs and initiatives that inspire self-confidence, leadership, and acceptance in Canadian youth. With over 1,200 employees in Canada, the bank’s presence extends from its website and Mobile Banking app to its 24/7 Contact Centres and Toronto-based head office. Tangerine Bank was launched as ING DIRECT Canada in 1997. In 2012 Tangerine was acquired by Scotiabank and operates independently as a wholly owned subsidiary.

About Toronto Parking Authority

Toronto Parking Authority (TPA) is North America's largest municipally owned operator of commercial parking and manages Bike Share Toronto, North America's third-largest bike share program. TPA's vision is to become the world's best provider of sustainable parking, bike share and last-mile mobility experiences for its customers, partners, and the city.
More information on Bike Share Toronto is available at bikesharetoronto.com.