Ola Money Postpaid to be rolled out to all 150 million users in India

The offering launched last year as a pilot, has seen 30 percent growth month-on-month.

Ola Money Postpaid to be rolled out to all 150 million users in India

Mumbai: Cab-hailing app Ola on Thursday said it will roll out digital credit payment Ola Money Postpaid to all its 150 million users in the country.

Ola Money Postpaid that offers a 15 day credit line, is at present being used by more than 10 percent of the cab aggegator's customers and 90 percent of the early adopters have used the offering more than once, it said in a statement.

Further, the entire experience is seamless as its 1 click enabled without the need of any OTP or password to process the payment, Ola added.

The offering launched last year as a pilot, has seen 30 percent growth month-on-month.

"The growing preference for transparent, seamless and secure transactions has seen Ola Money Postpaid redefine the way people commute. Fuelled by the momentum, Ola will extend the offering to all its customers in coming months and increase credit line offering and billing cycle to 30 days.

The Ola Money Postpaid offering is made available to customers basis internal big data risk scoring.  

Ola Money Postpaid will also extend its reach beyond mobility and integrate it into other segments such as food, entertainment and utilities in the coming months. The company said it also plans to enroll other merchants to create a faster and convenient payment mechanism for customers.