As the demonetization spree still continues, we are still waiting to get out of this cash crunch situation. Although, there have been various alternatives to transact cash, still, being out cash can be really troublesome.
However, against such backdrop, Ola, India's most popular mobile app for transportation, on Wednesday announced the launch of Ola Credit, a postpaid service that allows travellers to pay later for their rides.
The service will give customers seven days of credit and customers can keep booking Ola cabs without worrying about having sufficient cash.
While Ola is claims that this service is the first in the industry, it is being launched at a time when conserving cash has become an important task for many citizens.
So once you have used the service, at the end of the seventh day, customers can repay their bills via net banking, debit or credit cards or easily through Ola Money e-wallet which is integrated into the app.
As such, the company has claimed that Ola Credit will enable hassle-free commute to key corporate clients and high-frequency customers together. Ola has proclaimed that corporate clients such as Larsen & Toubro and IBM have subscribed to the Ola credit feature for their businesses.
Raghuvesh Sarup, who is the Chief Marketing Officer & Category Head of Ola stated that Ola Credit was a global first from Ola to keep India moving towards a cashless economy. Ola Credit will provide hassle-free mobility to citizens.
He further emphasised on how Ola had a deep commitment towards the Indian market and by combining it commitment with their experience in payment technology will help the company to contribute to a digitally enabled India. He adds, "Mobility is an everyday use case and our commitment to making it seamless includes building a frictionless payment experience."
The option is available in all categories, including its auto, rental and outstation services.
However, Ola will extend the credit service to its individual users selectively, most likely the frequent users of the Ola cab service or depending on their transaction history.