Ola launches postpaid service in India
Ola users in India can buy a ride now and pay later with groundbreaking postpaid service Ola Credit, according to reports. Using the Ola app, customers have up to seven days to pay for rides, either with Ola Credit or traditional cards via the Ola Money e-wallet. Raghuvesh Sarup, Chief Marketing Officer and Category Head, said the move was aimed at making Ola "seamless and frictionless". The company also welcomed the Indian government's drive toward a cashless society, as Ola Money becomes one of the country's preferred payment methods.

Ola today announced the launch of Ola Credit - apostpaid service to enable mobility to citizens who can now pay later for theirrides. A first in the industry, this service is being launched at a time whencash conservation is important for many citizens. Ola Credit will givecustomers 7 days of credit so they can keep booking Ola cabs without worryingabout having sufficient cash. Ola Credit can be repaid via net banking, debitor credit cards easily through the widely accepted Ola Money e-wallet which isanyway integrated into the app. Ola Credit enables hassle-free commute to keycorporate clients and high-frequency customers together.

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Raghuvesh Sarup, Chief Marketing Officer and Category Headsaid, "Ola Credit is a global first from Ola to keep India moving towardsa cashless economy. Ola Credit provides hassle-free mobility to citizens whocan now pay later for their rides when cash conservation is important for manycitizens. Our deep commitment towards the Indian market, combined with ourexperience in payment technology helps us to contribute to a digitally enabledIndia. Mobility is an everyday use case and our commitment to making itseamless includes building a frictionless payment experience. Credit is animportant step towards our goal of ensuring mobility for a billion Indians.

Dr. Sanjay Pai, Head - Travel & Dir. Aviation at Larsenand Toubro said "It is great to seehow technology is being used to upgrade the existing transportation segment inthe country. It is crucial to put a system in place to ensure it is seamlessand efficient, and this can only be enabled with cutting edge technology. I amhappy with the kind of customizations, transparency and efficiency that Ola'stechnology - Ola Credit brings at all levels" He further added,"Digital India is seeing great acceptance and growth; and with companieslike Ola supporting government's initiatives, we are confident that it will seegreater success and will have far reaching benefits in the overall growth ofthe country."

Ola welcomes this landmark move by the Hon'ble PrimeMinister to eradicate black money and fake currency and is supportive innurturing convenient and transparent payment ecosystem. Ola has urged consumersto use Ola Money, helping them conserve cash for other essentials, especiallyover the next few days. Ola Credit will play an important role in the movementof a large number of low value transactions online, allowing citizens toconserve lower denomination currency for their other needs.

Ola's popular e-wallet - Ola Money is already one of themost preferred modes of payment, after cash and with Ola Credit, millions ofIndians will experience cashless transactions for their mobility needs andbeyond. These innovations by Ola for a Digital India will go a long way inhelping us realise our mission of building mobility for a billion Indians.

Ola is playing a critical role in encouraging digitaltransactions and supporting the Government's vision of a cashless economy.Today, Ola Money is among the top three digital wallets and it offers anexperience that allows users to pay with a seamless, one-touch checkout in asecure environment in a wide variety of use cases across mobility, travel,food, entertainment, e-commerce, bill payments and mobile recharges. Ola Moneyalso allows peer to peer transfers, allowing users to transfer money to friendsand family with ease.

How does Ola Credit work?

A customer can select 'Ola Credit' as their payment optionwhile booking a ride. A user can avail cashless rides basis there usage andsettle dues as per his/her convenience, within a week. The 7 day credit cyclebegins from the date of the first credit ride. A customer will be able to cleardues using Ola Money, within the credit period. Ola extends credit to users ona select basis, on customer's transaction history.

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