Reportedly Ola has partnered with SBI to launch ‘Ola Money SBI Credit Card’. As per report the card, which is powered by Visa, will offer a simplified application process, without joining fees with seamless, flexible and convenient payments, the company said in a statement. Presently Ola is targeting 10 million Ola Money-SBI Credit Cards to be issued by 2022.
Apparently Ola users will be able to apply, view and manage their Credit Card directly on the Ola app. Furthermore Card users will also be offered cash back and rewards, instantly credited to their accounts in the form of Ola Money which can be redeemed against Ola rides, flight and hotel bookings, with lifetime validity. Bhavish Aggarwal, Co-founder and CEO of Ola, said in a statement “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".
Moreover Ola is considered a pioneer in the mobility industry and we believe this partnership will play a key role in further strengthening our card portfolio.” Apparently some of the offers on this credit card include 7% cashback on Ola cab spends, 5% cashback on flight bookings, 20% on domestic hotel bookings, 6% on international hotel bookings, 1% fuel surcharge waiver on fuel transactions, 20% back at restaurants and 1% on all other spends.
