Cab hailing app Ola has introduced ‘Ola Money Postpaid’ a digital credit payment offering for customers by invite only. Launched last year as a pilot, Ola Money Postpaid registered 30 per cent month-on-month growth in adoption during its beta phase and will subsequently be made available to Ola’s 150 million users.

The digital credit payment offers a 15-day credit line and can be enabled with one click without the need for an OTP or password to process payment. It has no fixed charges and users have to only pay for what they use.

“We are focussed on innovating and building solutions that ensure a seamless digital experience for our customers. Ola Money Postpaid is an innovative, world’s first offering that was launched after taking into account learnings and user experience of other modes of payment,” said Nitin Gupta, CEO, Ola Financial Services.

At present, 10 per cent of Ola’s customers are using Ola Money Postpaid and 90 per cent of the early adopters have used it more than once, the company said. Plans are on to extend its reach beyond mobility and integrate it into other segments such as food, entertainment and utilities in the coming months. The company has plans to increase the credit limit and billing cycle to 30 days.

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