Ola Money Postpaid is now official and would roll out soon, after having cleared pilot phase. USP of this scheme is that there is a 15-day credit line and the entire experience would be seamless through a one-click process without having to rely on OTPs and passwords for payment.
Ola Money Postpaid would also extend its reach beyond mobility and integrate it into other segments such as food, entertainment and utilities in the near future. The company also plans to enroll other merchants to create a faster and convenient payment mechanism for customers.
Currently, the Ola Money Postpaid is invite-only and this would be rolled out to all customers very soon.
Speaking on the initial customer feedback on Ola Money Postpaid, Nitin Gupta, Chief Executive Officer of Ola Financial Services said, “At Ola, we are focused on innovating and building solutions that ensure a seamless digital experience for millions of users across the country. Ola Money Postpaid is an innovative, world’s first offering that was launched post taking into account learnings and user experience of other modes of payment. The response has been phenomenal and more and more Ola customers are already making Ola Money Postpaid, their preferred choice of payment.”
He further added, “Ola is dedicated to supporting the Government’s vision of a cashless economy and we are committed to being a major force in India’s rapidly growing digital payments market. We will continue to invest in innovative solutions that promote the digital economy across India while extending the benefits of this first of its kind Postpaid offering to more Indians.”
Ola Money Postpaid is also said to be extending the billing cycle to 30 days when it becomes available for a wider audience. The Ola Money Postpaid offering would seed based on internal big data risk scoring algorithms.
Activating Ola Money Postpaid
Upon rolling out widely, users can log on to the Ola app and select the ‘Payments’ option. After tapping on the ‘Ola Money Postpaid invite’ button, customers can then choose 'Get Started' to begin using the postpaid utility.