Ola Credit: New postpaid service lets you book cabs for up to a week

Ola has announced the launch of Ola Credit; a new postpaid cab service will allow Ola users to pay after seven days worth credit. This move eliminates the issues that people faced trying to recharge 'Ola Money' or try to manage in the world without Rs 1000 notes or enough new Rs 500 notes. This service allows users to keep booking cabs for seven days without worrying about anything and they would receive the bill once the seven days are over.To use this select 'Ola Credit' as payment option while booking a ride. The customer can book cabs as per their conveniences and pay the amount within one week. The cycle begins from the date of first credit ride. The company can extend credit based on transaction history.Customers can use net banking, debit card or credit cards to repay 'Ola Credit' using the 'Ola Money' e-wallet. This move is to help Ola users conserve the lower denomination currency after the move by Prime Minister to demonetize old Rs 500 and Rs 1000 notes. "Ola Credit is a global first from Ola to keep India moving towards a cashless economy.Ola Credit provides hassle-free mobility to citizens who can now pay later for their rides when cash conservation is important for many citizens. Our deep commitment towards the Indian market, combined with our experience in payment technology helps us to contribute to a digitally enabled India," added Raghuvesh Sarup, Chief Marketing Officer and Category Head for Ola."It is great to see how technology is being used to upgrade the existing transportation segment in the country. It is crucial to put a system in place to ensure it is seamless and efficient, and this can only be enabled with cutting edge technology. I am happy with the kind of customizations, transparency and efficiency that Ola’s technology - Ola Credit brings at all levels," added Dr Sanjay Pai, Head - Travel & Dir. Aviation at Larsen and Toubro. This comes right after the introduction of Outstation trips.