Ola ties up with SBI Card to launch credit card

Ola, a ride-hailing company, plans to launch Ola Money SBI Credit Card in partnership with SBI Card, one of India’s largest credit card issuers. The Bangalore-based company, powered by
Visa, is aiming to look towards a flexible and convenient payment system with certain perks to its customers.

The company states that it put forwards procedure for the benefaction of all that involves a simplified application process with no joining fees so Ola users would easily be able to apply, view and manage their credit card straight on the Ola app.

Ola formulates to target more than 10 million Ola Money SBI Credit Cards by 2022. “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,” claimed Bhavish Aggarwal, co-founder and CEO of Ola.

While, SBI Card is placing its eyes at strengthening its card portfolio through unique initiatives, Ola lends its hand to begin that. Hardayal Prasad, MD and CEO, SBI Card, stated, “We aim to
address the customers’ evolving mobility spends while providing them with maximum value and unique benefits on their travel spends, especially for cab-based commute.”

Ola’s suite of digital financial offerings ranges from the Ola Money wallet to postpaid services and micro-insurance for rides initiated on the Ola platform. “Transport and transit payments are one of the largest digital payment use cases worldwide. This card will help transition millions of Ola consumers from cash to secure, reliable and convenient digital payments not only for their daily commutes but for other expense categories as well,” stated TR Ramachandran, Group Country Manager, India and; South Asia, Visa.