Cab hailing app Ola on Wednesday introduced a service to allow select customers to pay for their rides anytime within a week. The Ola Credit option has been made available commuters based on their ride history, and customers must select the option at the time of booking to avail the service, Mint reported.
The move comes as the country is grappling with a cash crunch, following the government’s move to demonetise Rs 500 and Rs 1,000 notes. “This is not a product on which we are making money. This is a facility that has been extended to Indian citizens at a time when they need to conserve cash,” said Raghuvesh Sarup, chief marketing officer of categories head at Ola.
Ola Credit does not come with a limit on the number of rides a customer can book every week. Riders can pay the amount due each week through net banking, credit or debit cards, or through Ola Money, the company’s own online wallet. Sarup, however, clarified that Ola drivers will not be affected by the move, adding that they will be paid their daily wages as usual.
ANI Technologies Pvt Ltd, which operates the ride hailing service, did not share the number of users to whom Ola Credit will be available. The option is available in all categories, including its auto, rental and outstation services.