OLA ties up with ICICI Bank to offer integrated services

Mumbai Jan 9: In a move to provide better services Ola, the taxi-hailing app, has tied up with ICICI Bank to provide such as micro-credit to the customers and digital payment facilities to driver partners.

Sources said that "ICICI Bank customers can now book and pay for Ola on the bank's mobile app and wallet itself. Besides, the bank will also provide micro-credits to Ola customers, wherein they can use the credit for 3-4 rides and then repay later. The bank will, however, use analytics and algorithms to understand the creditworthiness of the riders."

Officials have said that "For the driver partners, the bank will offer a ‘Pay Direct’ card to help them get their daily earnings directly into their ‘Pay Direct’ card accounts. Additionally, driver partners can also swipe this card at merchant outlets for their purchases. Ola along with ICICI Bank will launch a new co-branded credit card offering cash back and accelerated reward points."