Ola Launches Credit Service

Ola has become the world’s first ride-hailing company to introduce digital credit payment by offering “Ola Money Postpaid”.

The Idea – A payment service that lets you pay for all your spends at once every 15 days, without the need of any OTP or password to process payment. At present, Ola Money Postpaid is being used by more than 10% of Ola customers and 90% of the early adopters have used the offering more than once.

“At Ola, we are focused on innovating and building solutions that ensure a seamless digital experience for millions of users across the country. Ola Money Postpaid is an innovative, world’s first offering that was launched post taking into account learnings and user experience of other modes of payment. The response has been phenomenal and more and more Ola customers are already making Ola Money Postpaid, their preferred choice of payment.” – Chief Executive Officer of Ola Financial Services, Nitin Gupta.

Ola will extend the offering to all its customers in coming months and increase credit line offering & billing cycle to 30 days. Ola Money Postpaid will also extend its reach beyond mobility and integrate it into other segments such as food, entertainment and utilities in the coming months.