Ola cabs empowers riders, starts ride now -pay later service with 15-day credit line
Ride-sharing platform Ola on Thursday said its credit payment feature, Ola Money Postpaid, which offers a 15-day credit line to passengers, would soon be available to all the Ola app users.
Ola Money Postpaid
Ola Money Postpaid is a digital credit payment service that allows users to pay for all the expenditure once every 15 days. In effect, free rides are on offer, but the catch is that the payments will have to be made within a fortnight.
Ola Money Postpaid: 30% growth
"The offering was launched last year as a pilot, and has received good response from customers with 30% growth month-on-month," an Ola statement said.
Ola Money Postpaid: Used by 10% customers
At present, Ola Money Postpaid is being used by over 10 per cent of Ola customers.
Ola Money Postpaid: Billing cycle- 30 days
Apart from extending the service to all its customers in coming months the company would also increase credit line offering and billing cycle to 30 days, as per the statement.
Ola Money Postpaid: More segments
"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. The company also plans to enroll other merchants to create a faster and convenient payment mechanism for customers."