Ola Money helps millions of Indians go cashless; 1500% increase in wallet recharges

• Upto 30x growth in recharges and wallet usage witnessed in Tier 2 & 3 cities across India
• Ola Money is being used beyond mobility, across a wide range of use cases like utilities, food, entertainment, travel and peer-to-peer transfers

9 November 2016, Bengaluru: Ola Money, the popular digital payment solution from Ola, India’s most popular mobile app for transportation, has reported over 1500% increase in recharges across the 102 cities of its operation since 8:30 pm on 8 November 2016 till 12:00 pm. Mobility is one of the most essential needs and Ola, as the most preferred mobility platform in the country is helping millions of users, from across every corner of the country with its convenient payment solution. Ola welcomes this landmark move by the Hon’ble Prime Minister to eradicate black money and fake currency and is supportive in nurturing convenient and transparent payment ecosystem. Ola has urged consumers to use Ola Money, helping them conserve cash for other essentials, especially over the next few days.

The Ola Money wallet has witnessed unprecedented traction amongst consumers over the last 12-15 hours with a 15 times increase in recharge volume. In many smaller towns and cities across the country, which have predominantly been high on cash usage, there has been as much as 30 times growth. This includes cities like Nagpur, Chandigarh, Bhopal, Lucknow, Patna, Ahmedabad, Coimbatore, Jaipur, Indore etc. A majority of rides are being paid for using Ola Money as against cash across India.

Pallav Singh, SVP & Head – Ola Money said, “As India’s most preferred mobility platform and one of the top three digital wallets in the country, we are proud to help citizens go cashless. Within the past 15 hours, we have seen a growth of over 15 times on Ola Money recharge. Ola Money has always been the most convenient mode of payment, not only for mobility needs of users, but for a wide range of use cases across essentials and utilities. This move marks the beginning of a significant step towards a cashless economy and Ola Money is at the forefront of our vision of a Digital India. We urge our customers to conserve cash and use Ola Money instead for their mobility needs and across other online and offline merchants.”

Ola Money is also accepted at over 500 offline and online merchants across utilities, food, entertainment, ticketing and travel, recharge, shopping etc. Recently, Ola Money also partnered with Mumbai Metro to help commuters recharge their prepaid metrocards and RSRTC- the Rajasthan State Road Transport Corporation as their exclusive digital payment partner, to book tickets online, using Ola Money. Additionally, Ola Money has also partnered with merchants like, Pizza Hut, BookMyShow, IRCTC, Dominos, Cleartrip amongst hundreds of others. Ola Money can also be used for prepaid mobile phone recharge across all network operators in India and for sending money to friends and family within minutes. These partnerships allow Ola users, who already maintain a significant balance in their Ola Money accounts, to pay with one touch.

Ola Money is an easier, faster and safer way to make payments online and offline. With millions of customers on its platform, Ola Money is already one of the top mobile wallets in the country by average size of wallet. Ola Money as a digital payment solution is uniquely positioned with high frequency usage and recharge by users, given the primary use case of the wallet. The Ola Money experience allows users to pay with a seamless, one-touch checkout in a secure environment in a wide variety of use cases, outside the Ola platform. Ola Money can be recharged using Net Banking Debit Cards or Credit Cards including MasterCard, VISA,  American Express & RuPay.

About Ola Money:

Ola Money, powered by ZipCash, is Ola’s mobile wallet that allows for a seamless experience, making payments easier and simpler. Ola Money can be used at several merchants including BookMyShow, Dominos, IRCTC, Yatra etc. with many more coming soon. All personal and financial data is stored in a secure and encrypted environment. Ola Money’s one-click checkout is the fastest way to pay! The Ola Money app on Android can be downloaded from the Google Playstore and is available on on iOS and Windows as well. Visit www.olamoney.com for more information.

About Ola:

Founded in Jan 2011 by IIT Bombay alumni Bhavish Aggarwal and Ankit Bhati, Ola (formerly Olacabs), is India’s most popular mobile app for personal transportation. Ola integrates city transportation for customers and driver partners onto a mobile technology platform ensuring convenient, transparent and quick service fulfilment. Ola is committed to its mission of building mobility for a billion people. Using the Ola mobile app, users across 102 cities can book from over 4,50,000 vehicles across cabs, auto-rickshaws and taxis.  Ola has also introduced a range of shared mobility services on its platform like Ola Shuttle and Ola Share for commute and ride-sharing respectively. The app is available on Windows, Android and iOS platforms. Please visit www.olacabs.comand https://www.olacabs.com/media for more information.

For media queries:

Soumitra Chand | media@olacabs.com | +91 95350 44316