Tangerine Bank is the new exclusive presenting partner of the City of Toronto’s Bike Share Toronto program.

With this five-year partnership, the digital bank will work alongside Bike Share Toronto to expand the program and support the city in achieving its TransformTO Net Zero objectives, a strategy to drive emissions down to zero by 2040.

Tangerine will support numerous Bike Share Toronto initiatives included in its four year growth plan, which includes 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, as well as adding more Bike Share stations at and near transit stops. The plan also calls for elevating and innovating the digital customer experience.

“Our number one priority at Tangerine is our customers,” says Gillian Riley, president and CEO of Tangerine. “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.”

Tangerine is also incentivizing its clients to participate in Bike Share. Clients will receive up to 2% 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 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.

The City of Toronto’s bike sharing program has been losing money every year since 2017 after its launch partnership with TD ended. Last fall, Justin Hanna, director of Bike Share Toronto, said corporate sponsorship was among the organization’s biggest priorities for making the program sustainable again.