BANGALORE: Ola is driving electronic payments all the way even though its rival Uber is branching out into cash payments. The deal is in favor of auto-rickshaw drivers who found the clustered payment for mobile wallet payments a hassle for their cash flow, Mozaaf.
The taxi aggregator has now introduced real-time transfer for the pre-paid card accounts of auto-rickshaw drivers so that on completing a ride they can easily withdraw their payment at the nearest ATM, instead of waiting the next day to process the mobile wallet accounts and passing on the proceeds to the driver partners.
Anand Subramanian, leading marketing communications at Bengaluru based Ola said "Instant transfer of Ola Money helps both customers and drivers on our platform. Even if there are any Internet issues, since the driver's device recognizes the One-Time Password (OTP ) right from the beginning of the trip, the entire payment process is completed in seconds."
The mobile wallet launched last year has now taken up a total of 50 pct in transitions across various categories. They have branched out their autorickshaw service across six cities till date with over 65,000 threewheelers working for Ola. While it was less work to route payments from mobile wallets to auto-rickshaw drivers as it was free from then, the case for cabs however was at a 20pct commission which Ola made for each ride.
After taking their commission, Ola set cash transactions through mobile wallets to be paid to their drivers. With mobile payments growth, Ola is able to enjoy the benefits of retrieving easy commission. Nonetheless sources affirm that Ola will still operate through cash-based model as a large number of their customers are still using paper money.
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