Londoners will be able to cycle to work for as little as £1 a week under a new scheme being launched by Santander Cycles.
Cycling to work provider Cyclescheme has partnered with Transport for London (TfL) on a new programme called City Bike Hire.
Under it, those employers who nominate Cyclescheme as their cycle to work partner will see the cost of annual membership of Santander Cycles slashed.
The reduced fees for using the bikes comes directly out of employee wages, with the total amount split across a number of payments.
Annual membership of Santander Cycles is normally £90 for an employee, but the programme will cut this by 32 to 42 per cent.
Journeys less than 30 minutes are included in the membership and every additional 30 minutes of cycling will cost £2.
As part of the scheme, employees will also be able to acquire cycling accessories such as protective clothing and helmets and spread the cost across monthly payments.
City Bike Hire is part of wider efforts by TfL to encourage people to swap the use of public transport for so-called “active travel” modes.
This is in order to keep bus and Tube services as empty as possible while the coronavirus pandemic goes on.
Over the summer record numbers of Londoners took to the rental bikes, which are still informally know as “Boris bikes”.
Helen Sharp, TfL’s head of cycle hire business development, said: “Our cycle hire scheme has led a revolution in cycling in London over the last ten years, offering people flexible and affordable access to bikes across the city.
“Our data shows that Londoners are increasingly turning to cycling, with records for Santander Cycles broken over a dozen times since May this year.
“There has never been a better time to start cycling. Santander Cycles are a brilliant option for those who don’t have their own bike, and through our partnership with Cyclescheme, employers can now offer their staff access to the scheme for less than ever before.”