Taxi aggregator Ola has confirmed the launch of its mobile wallet “Ola Money”. The move will see Ola competing with the top competitors like Paytm, Freecharge and Mobikwik in the Indian digital market.
Initially, Ola provided Ola money service built within the app to its 40 million users. The inbuilt feature allowed the users to pay for Taxi and auto fares.
With the launch of Ola Money as a separate app, the Taxi aggregator will now provide online services like recharging mobiles, paying for online transactions and money transfers etc.
Ola Money has announced that it has partnered with a host of online firms to enable customers make cashless transactions using Ola Money. Oye Rooms, Lenskart and Saavn are some of the online firms that Ola has partnered with.
Founder and the Chief Executive Officer of the Ola, Mr Bhavish Aggarwal said that the company will be aiming to provide more services through Ola Money in the near future.
“Since the introduction of Ola Money, it has seen a enormous acceptance from our customers. We are working to add more number of third party merchants to give a seamless experience to our customers”, The CEO said.
“We are moving ahead with plans to make Ola Money usable for utility bill payments across the Online and Offline platforms”, he added.
Ola Money is powered by ZipCash, a online payments service.