HIGHLIGHTS


  • Ola Money Postpaid is to be extended to all customers in the coming months
  • The Ola Money Postpaid Service is billed monthly
  • Ola Money Postpaid will also open for other services


Ola announced on Thursday that it will offer "soon" its digital loan offer, Ola Money Postpaid, to all customers. The company expects the offer to be available to over 150 million customers. As a reminder: Ola Money Postpaid was launched last year as a pilot project in India. The company claims that the loan offer has since received a "tremendous response," growing 30 percent over the previous month. Ola also claims that Ola Money Postpaid is currently used by more than 10 percent of customers, with a reuse rate of 90 percent.

The Ola Money Postpaid offer offers customers a 15-day credit line, and the company points out that the service is "1-click enabled" and does not require an OTP or password to process payments. With the extension of the offer to users in the "coming months", the billing cycle will be extended to 30 days. During the expansion, the company said the service will not only be available for its own travel payment, but will also be available in other segments such as food, entertainment and utilities. More dealers will be on board during the expansion.

To activate Ola Money Postpaid, users must visit the Payments section of the app, tap the Ola Money Postpaid Invitation button, and then click the Getting Started button.

Commenting on the initial customer feedback on Ola Money Postpaid, Ola Financial Services CEO Nitin Gupta said, "Ola Money Postpaid is an innovative, world-first offering that has been introduced taking into account the learning outcomes and user experiences of other payment modes It was phenomenal and more and more Ola customers are making their preferred payment method Ola Money Postpaid."

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