May 07, 2012 at 03:53 PM
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Bankrolled: NYC's Bike Share Program Gets $41M Financial Services Sponsor

10,000 blue bikes will soon be available throughout New York City, as part of this summer's launch of NYC Bike Share, which we profiled here last September. Why blue? Because Citi is reportedly paying $41 million to sponsor the program. MasterCard will also chip in $6.5 million to be Citi Bike's payment sponsor, adding “PayPass Tap & Go” to the bike share stations. Banks and bikes of course are nothing new. Last year, Barclays committed $41 million to London's bike sharing system, which has since been dubbed "Boris Bikes" after mayor Boris Johnson.

Learn more at Citi Bike's newly launched website.