Ola credit card! cab aggregator targets 10 million Ola Money-SBI credit cards by 2022

The homegrown cab aggregator Ola has announced to launch the Ola Money SBI Credit Card in partnership with SBI Cards, powered by Visa, in Bengaluru on Wednesday. The card will transform the customer experience by offering a simplified application process, eliminating joining fees and providing seamless, flexible and convenient payments to millions of Ola users, said a company statement. Ola, which is one of the world’s largest ride-hailing platforms, aims to target 10 million Ola Money-SBI Credit Cards to be issued by 2022.

The Ola Money SBI Card will bring together a unique payments experience alongside several best-in-class benefits for users, said the company, adding that it will offer a simplified application process with no joining fees. Ola users will be able to apply, view and manage their Credit Card directly on the Ola app with a few taps, and the card users will also benefit from the highest cash-back and rewards, instantly credited to their accounts in the form of Ola Money which can be redeemed against Ola rides, flight and hotel bookings, with lifetime validity, it stated.

Launching the card, Bhavish Aggarwal, Co-founder and CEO of Ola, said, “We are excited to launch the Ola Money SBI Credit Card and 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. 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.”

We’re excited to launch India's most rewarding Credit Card: the Ola Money SBI Card in association with @SBICard_Connect, @Visa_IND. This card will be a driving force for India's digital economy, making cutting edge payment solutions accessible to millions https://t.co/jK6rSSsr8X pic.twitter.com/y01yD7PMSc

— Bhavish Aggarwal (@bhash) May 15, 2019

Hardayal Prasad, MD & CEO, SBI Cards said, “We are delighted to partner with Ola, to introduce the country’s first of its kind credit card in the mobility segment. The launch of Ola Money SBI Card underlines our penchant to provide innovative and industry-first payments solutions to our customers. Through this card, we aim to address their evolving mobility spends while providing them with maximum value and unique benefits on their travel spends, especially for a cab-based commute. Ola is considered a pioneer in the mobility industry and we believe this partnership will play a key role in further strengthening our card portfolio.”

“Digital Payments are an integral part of mobility and through the Ola Money SBI Card, we aim to transform the combined experience for millions of Ola users. We are thrilled to partner with SBI Cards and Visa, two of the biggest financial brands in India, and look forward to building a very successful partnership,” said Nitin Gupta, CEO of Ola Financial Services (OFS). 

TR Ramachandran, Group Country Manager – India & South Asia at Visa said, “We are delighted to partner with Ola and SBI Cards to provide digital-first credit access to millions of creditworthy Ola customers and hence help expand the market.”

According to the company, the Ola Money SBI Card has been designed keeping in mind the unique needs and aspirations of the new age Indian consumer, further reiterating the company’s focus on building cutting edge digital solutions that can strengthen the mobility ecosystem and the payments experience at large.

Interested people should know that earnings will be credited to Ola Money Wallet. If you want to enrol for the card, you should visit https://om.olacabs.com/credit-app/cc-express-interest