Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Mobile app for personal transportation Ola, has announced that its 20 Mn customer base will now be able to pay various ecommerce platforms through Ola’s payment option account, Ola Money.
Ola Money can now be used for making payments for Oyo Rooms and merchants like Saavn, Lenskart, among others will be added soon.
Ola is also planning to apply for a mobile wallet licence soon. Presently, the company uses payment technology through PayU and ZipCash Card Services Pvt Ltd.
Recently, 11 companies have got approval from RBI to launch payment banks.
Ola claims to be one of the top three mobile wallets in the country with an average wallet balance size of INR1000. With the extension of Ola Money’s services, users will benefit from cashback and discount promotions in the initial phase of rollout.
Anurag Gaggar, VP, product management at Oyo Rooms said, “The sheer convenience of checking out with one touch from their phones, makes Ola Money payment experience top notch.”
Ola has recently also launched mobile-only hyperlocal ventures like Ola Cafe and Ola Store. The company is also planning to start bus services as well. Ola has raised over $750 Mn from Venture Capital firms which include Tiger Global and Softbank till date.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.