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Telecoms services provider Singtel on Monday said it signed a memorandum of understanding with Mobike, the world's first and largest smart bike-sharing company, to collaborate in the field of mobile payments, data analytics and others.

Singtel and Mobike will work together to explore mobile payments for bike rides, the company said in a press release.

Through the Singtel Open Platform, the group's mobile customers across Asia will be able to pay for trips using direct carrier billing or the company's mobile wallets.

This will provide a seamless, secure, and convenient experience for users, especially in the developing markets where many still do not have credit or debit cards, the company said.

Mobike currently has a presence in over 200 cities around the world. Since its launch in Singapore in March this year, its first market outside of China, Mobike has continued to grow in the Asia Pacific region, launching in Japan, Thailand, Malaysia, Korea and Australia in recent months.

The Singtel Group and Mobike also intend to explore new Internet of Things technology, such as eMTC and NB-IoT which will enable the smart bikes to be located more precisely even in areas that are technically challenging for mobile signals such as underground parking spaces.