Ola today announced that its digital payment solution Ola Money has partnered with various fashion, e-commerce and healthcare platforms like Voonik, eBay, YepMe, AskmeBazaar and Healthkart. Earlier, Ola Money partnered with services like the Rajasthan State Transport Corporation and Mumbai Metro.
So if a customers now make purchases on any of these platforms, they can choose to pay through their Ola Money.
Pallav Singh, Senior VP and Head of Ola Money, mentioned in a press statement that the Ola Money app is already being used for P2P transfers, ticketing, mobile recharges and across online and offline merchants including Cleartrip, Stayglad, Doormint and Café Coffee Day. He added that with the company is looking to build a more holistic and stronger payment ecosystem.
Ola Money claims to be one of the top wallets in the country by average size of the wallet. Anand Subramaniam, Director of Marketing, Ola said that the primary use of Ola Money has always been mobility, since people store money in the wallet. With the use case it made sense for the team to invest in experiences that across other things people can do every day – shopping, travel, eating out and healthcare. “It makes sense to have the same convenient payment experience across platforms,” said Anand.
Ola Money is looking to on-board more partners. Shivani Suri, Director of Marketing eBay India believes that the high frequency usage and active customer base with a higher average wallet balance puts Ola Money in a unique position.
Anand mentioned that the partnership with other players is a strategic move for Ola Money. With this move, Ola Money competes with Paytm and other wallets. Paytm has tied with Uber and also has also tied up with other online and offline partners. In last one year, Ola had to shut down its hyperlocal grocery delivery service Ola Store and food delivery service Ola Cafe because of the lack of demand and changed roadmap of the company.