Just a couple days back, Paytm launched its first credit card – Paytm First Credit Card, in partnership with Citi, with 1% universal unlimited cashback, contactless payment method, and a few more exciting offers. And now, Ola has announced its partnership with State Bank of India to launch ‘Ola Money SBI Credit Card’.
The Ola Money SBI Credit Card is powered by Visa, and according to the company can transform the customer experience by offering a simplified application process (with no joining fees), eliminating joining fees and providing seamless, flexible and convenient payments to millions of Ola users. It also says that it is targeting 10 million Ola Money SBI Credit Cards to be issued by 2022.
Ola claims their application process to be a 2-minute seamless in-app application process with instant approval and credit limit. The in-app card management provides alerts for bills, access to running bill, and in-app support to get offer resolution to queries. Ola’s suite of digital financial offerings from Ola Financial Services ranges from Ola Money wallet to Postpaid Billing and Micro-insurance for rides taken on the Ola platform. And the newly-launched joins a part of the suite of digital financial offerings from Ola Financial Services.
“We are excited to launch the 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.” – said Bhavish Aggarwal, Co-Founder and CEO.
Ola Money SBI Credit Card Offers
- 7% cashback on all Ola Cab rides (capped at INR 500 per month)
- 5% cashback on all Flight bookings via Cleartrip (capped at INR 5000 for domestic and INR 15000 for international
- 20% cashback on hotel bookings via Cleartrip
- 20% cashback on restaurant bills via Dineout (max INR 2400 in 12 months)
- 1% cashback on all other spends
Cashback amount will be credited to Ola Money wallet within 3 days and can be redeemed on Ola, Dineout, Cleartrip, and 1500+ other merchants.
As an introductory ‘Early Bird Offer’, users also get:
- INR 500 as Ola Money (credited after the first transaction)
- INR 300 Cleartrip voucher (Instant discount on flight booking)
- 1+1 on food, drinks & buffet (Valid for 3 months, only via Dineout)
In addition to these offers, users also get:
- Fuel surcharge waiver
- No card fee for the 1st year, 2nd year card fee of INR 499 waived off on spends over INR 1Lakh
Interested users can enrol themselves for the Ola Money SBI Credit Card on this website by clicking the ‘Express interest’ button. After which they will be asked to enter their Phone Number and PAN Number to check their eligibility for the Ola Money SBI Credit Card.