As we last updated that, Paytm in partnership with Citi launched a co-branded credit card. Making a similar move, OLA the cab riding giant has launched its credit card in association with SBI Card.
The card shall be powered by Visa and is being offered to eliminate joining fees and providing flexible and convenient payment options to Ola Users. The co-branded credit card is targeting 10 million consumers by 2022.
The spends would be rewarded as
- 7% cashback on cab spends
- 5% on flight bookings
- 20% on domestic hotel bookings
- 6% of international hotel bookings
- 20% at over 6,000 restaurants
- 1% on all other spends
User’s who shall be entitled the card will be able to conveniently access various services to manage their cards through the native Ola app. Cashback would also be made available and shall get instantly credited to the respective customers Ola money account. The cashback earned have no validity and can be consumed against Ola rides, flight booking, and hotel reservations.
Co-Founder and CEO, Bhavish Aggarwal mentioned
“We are excited to launch Ola Money SBI Credit Card, and we look forward to taking this to millions of Indians over the next few years. 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.”
Ola in partnership with SBI cards wants the Digital India moment to be accessible to more and more customers where they can experience the mobility of digital payments with ease. Ola shared their excitement in partnership with SBI card and Visa at the same time.
The Group Country Manager – India and South Asia at Visa
TR Ramachandran said,
“We are delighted to partner with Ola and SBI Card to provide digital-first credit access to millions of creditworthy Ola customers and hence help expand the market. We are confident that customers can expect innovative and secure payment experiences with this innovative credit card. 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.”