The ride hailing Ola on Wednesday introduced a one of its kind credit card in partnership with SBI Credit Cards called Ola Money SBI Credit Card.
Softbank backed car aggregator through the new launch intends to enhance customer experience, simplify the application process, eliminate joining fee and offer convenient at the same time seamless payment mode. The company targets issuance of as many 10 million Ola Money SBI credit cards by 2022.
"We look forward to taking this to millions of Indians over the next few years. Mobility spends form a significant wallet share for users and we see a huge opportunity to transform their payments experience with this solution," said Bhavish Aggarwal, co-founder and chief executive officer (CEO) of Ola.
"With over 150-million digital-first consumers on our platform, Ola will be a catalyst in driving India's digital economy with cutting-edge payment solutions," Aggarwal added.
The new card users will be able to track their transactions done using the card on the Ola app itself and also they will advantage from rewards and cashback points.
"We are delighted to partner Ola, to introduce the country's first-of-its-kind credit card in the mobility segment," said Hardayal Prasad, managing director and CEO, SBI Cards. "We believe this partnership will play a key role in further strengthening our card portfolio," said Prasad