Bangalore-based mobile app taxi service provider, Ola has announced the launch of cashless rides through its In-app Ola Money Wallet for auto rickshaw bookings from its app across Hyderabad, Chennai, Pune, Ahmedabad, Delhi and Bangalore.
The traditional Kaali-Peeli taxi rides in Mumbai that are booked through the Ola app can also be paid for using the wallet. This will be the first payment solution for auto rickshaws and will make the entire auto experience convenient and seamless for customers.
With this feature, customers will not have to pay cash to the auto drivers and the fare amount shall be automatically deducted from their Ola Money account. This solves for two primary pain points for users- the need to carry cash and the hassle to find the exact change after the ride.
Ola had launched auto booking through its app about 6 months back. Over 40,000 autos and kaali-peeli taxis are registered pan-Indian on the Ola app. Since the launch of this app, drivers registered on the Ola platform have seen their revenues increase by upto 40%.
Besides, drivers will now be saved from the hassle of carrying and finding change after every ride. Also, drivers will now have their daily earnings deposited into their account with Ola, linked to a prepaid card usable at ATMs or any merchant, helping them inculcate financial discipline on a daily basis.
In order to pay through the in-app wallet, the customer has to simply inform the auto rickshaw driver that the payment will be made with Ola Money. On completion of the ride, the driver shall enter the fare displayed on the meter, followed by the four-digit OTP that the customer will receive through an SMS. Ola money is then automatically deducted from the customer’s account. Drivers can withdraw their payments anytime from the prepaid ATM card that is linked to their Ola account.
The Ola app is currently available on the Windows, Android and iOS store. Customers can book from over 1,00,000 vehicles across 85+ cities. Using the Ola app, commuters can also book autos in Bangalore, Delhi, Chennai, Pune, Ahmedabad, Hyderabad and Kaali-Peeli taxis in Mumbai.
Ola was founded in Jan 2011 by IIT Bombay alumni Bhavish Aggarwal and Ankit Bhati. Ola’s proprietary mobile application for drivers across commercial transport vehicles helps them connect with customers looking for a safe and reliable ride. Recently, Ola has acquired TaxiForSure, online cab aggregator for $200 Mn.