Not sure about online money but online wallets are increasing day by day. Recently Taxi-hailing app Ola launched the Ola money app for android users.
Ola Money
Ola Money offers P2P (Peer to Peer) payments, Mobile recharges and bill payments, and users can also check out deals and offers from partnered merchants. Merchants partnered with Ola money includes Oyo Rooms, Lenskart, Saavn, Zopper, BusIndia and Zoomin, Explara, Healthkart and Planhound.
Similar to other online wallet services, Ola money accounts linked with Users’ email id and mobile ohone numbers can be recharged via credit/Debit cards, Net Banking etc. Ola money claims 1 Mn daily booking requests with total of 25 mn users.
It is clear Ola which is known majorly for its Cab services, Ola Cabs does not want to be limited to one segment like Cab services but looks eager to capture various segments in the market and aims to reach more and more consumer base. Recently Ola had launched Hyperlocal delivery service Ola store. Ola had recently been in news for opening its API to integrate with leading brands InMobi, Helpchat, MakeMyTrip and Samsung, allowing major mobile applications as well as individual developers, to integrate Ola’s offering onto their platforms.
Key competitors for Ola in mobile payment services are Paytm which is backed by Alibaba, Freecharge which has recently been acquired by Snapdeal and came with combined service called Freecharge Wallet, Mobikwik, PayUMoney, Oxigen wallet etc.
