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A new online service enables bicyclists to rent bikes and accessories from participating shops in the United States and Canada just like they would to rent a car. Northfield, Ill.-based RentaBikeNow.com collects reservation deposits and convenience fees through PayPal Inc., which also enables payments with all major credit cards, founder George Gill tells CardLine. Like many avid cyclists, for years Gill rented bicycles from individual shops when he traveled but had to find shops through phone books or Internet searches. "Then you give some guy your reservation over the phone and he writes it down on an envelope and you hope he's working the day you come to pick up your bike," Gill says. Gill and his partners in the venture, a division of Go. Play. Everywhere., an Iowa limited-liability company, developed proprietary software into which participating bike shops can load their locations, bikes and accessories available, hours of operation, and the card brands and payment tenders the shop accepts. Gill and his partners began recruiting bike shops last fall and launched the service for consumers in April. The service is free to bike shops. Consumers pay convenience fees to RentaBikeNow.com upon reserving bicycles: $5 for one bike, $8 for two bikes and decreasing per-bike costs for additional bikes, Gill says. Accessory rentals carry no convenience fees. Upon reserving bikes, consumers also pay bike-shop deposits equaling 20% of their rental costs.
