The firm, which has over 215,000 customers across the UK, has adjusted its fee structure to ensure as many people as possible can afford to become members and to provide more membership options.

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nextbike UK will change its annual membership structure from May 1, to offer an affordable plan that spreads costs across 12 months rather than requiring one annual up front payment.

Annual membership will still cost £60, but all new customers will now be billed £5 monthly for 12 months.

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A new monthly membership will also be introduced at £10 per month, meaning customers can have the benefits of membership without committing for an entire year.

Users with one-payment annual memberships will be able to use this until the membership expiry date one year from the date of purchase.

nextbike UK managing director, Krysia Solheim, said that the goal is to use the updated structure to offer sustainable travel to new audiences.

“We know, from listening to customer feedback, that an upfront £60 annual membership fee is prohibitive for some people. Our ultimate goal is to improve the quality of life in our regions by transforming the way people move throughout them – regardless of economic circumstances. To achieve our goal, we must take into account users’ financial situations and cater to as many people as possible.”

nextbikes are available 24 hours a day and users can register and hire bikes in just a couple of minutes. The cycle-share scheme is one of the cheapest ways to get around, with fees starting from as little as 16p per day.