The move comes in the face of the country going through a process of demonetizing high currency notes and millions of Indians not being able to have enough cash in hand. Cash conservation is now essential and Ola is giving customers the chance to keep the cash aside for other inevitable purposes and commute hassle-free without the need for paying up immediately.
When you book a ride now, you will see the option of taking an Ola Credit. The date of repayment will start counting from the day you take your first ride using Ola Credit and will have a time-frame of 7 days to repay. The Ola Credit facility will only be extended to customers on a selective basis, based on the transaction history of the customer.
Ola is the first taxi aggregator company to offer such a service in the world. The move will see a large number of low-value transactions go online, helping customers preserve the hard-to-come-by cash for more important use.
The service will be integrated with Ola Money, Ola’s existing e-wallet facility and will help make In the transition to a digital, cashless economy much easier on the citizens.