Tuesday April 23, 2019
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Ola Money Postpaid to be Available For all Ola Users

Apart from extending the service to all its customers in coming months the company would also increase credit line offering and billing cycle to 30 days, as per the statement

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Ola Cabs. Image source: Flickr

Ride-sharing platform Ola on Thursday said its credit payment feature, Ola Money Postpaid which offers a 15-day credit line to passengers, would soon be available to all the Ola app users.

Ola Money Postpaid is a digital credit payment service that allows users to pay for all the expenditure once every 15 days.

“The offering was launched last year as a pilot, and has received good response from customers with 30% growth month-on-month,” an Ola statement said.

Ola Money Postpaid to be available for all Ola users.

At present, Ola Money Postpaid is being used by over 10 per cent of Ola customers.

Apart from extending the service to all its customers in coming months the company would also increase credit line offering and billing cycle to 30 days, as per the statement.

“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 also plans to enroll other merchants to create a faster and convenient payment mechanism for customers.” (IANS)

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Hyundai, Kia Invest $300 mn in India’s Ride-hailing Giant Ola

The nine-year-old firm had set up in 2018 Ola Electric Mobility Ltd to use battery-run cabs as a pilot project at Nagpur in Maharashtra

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Ola Cabs. Image source: Flickr

In their single biggest investment ever, Hyundai Motor Co and its affiliate Kia Motors Corp on Tuesday announced an investment of Rs 2,068 crore ($300 million) in India’s leading ride-hailing cab aggregator Ola.

The agreement will see the three companies collaborate on building India-specific electric vehicles and infrastructure and developing unique fleet and mobility solutions, Hyundai said.

“This partnership will also significantly benefit driver-partners on our platform, as we collaborate with Hyundai to build vehicles and solutions that enable sustainable earnings for millions of them, in the time to come,” said Bhavish Aggarwal, Co-founder and CEO of Ola.

Hyundai Motor and Kia Motors will invest $240 million and $60 million respectively in Ola.

As part of the strategic collaboration, the companies have agreed to co-create solutions to operate and manage fleet vehicles, marking the Hyundai Motor Group’s first foray into the industry, as they expand operations from automobile manufacturing and sales to total fleet solutions.

Ola Cab. Facebook

The partnership will offer Ola drivers various financial services, including lease and instalment payments, while vehicle maintenance and repair services are expected to enhance customer satisfaction, Hyundai said.

Hyundai, Kia and Ola also agreed to coordinate efforts to develop cars and specifications that reflect the needs of the ride hailing market.

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Ola earlier this month raised Rs 400 crore from its early investors, including Tiger Global and Matrix India, to fund its electric mobility business.

The nine-year-old firm had set up in 2018 Ola Electric Mobility Ltd to use battery-run cabs as a pilot project at Nagpur in Maharashtra. (IANS)

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