Olacabs launches in-app wallet for cashless payment

Bangalore: Cab booking company Olacabs said on Monday that it is adding an option for taxi payments through its app. With this move, Ola has become the first local cab company to offer cashless payment, which only San Francisco-based Uber used to offer till now.

“We are very excited about the possibilities that our mobile wallet offers and firmly believe that our customers will love this cash-free experience. We have added a host of additional and unique features in the latest app,” said Harsha Kumar, head of products at Olacabs, in a statement.

The company says that over 70% of its bookings come through the app which is available on Android, iOS and Windows platforms.

Olacabs’s in-app wallet will allow customers to recharge their account through a credit card, debit card or through net banking. The final fare will be automatically deducted from the customer’s wallet after a ride. Users can recharge their account for Rs100-5,000.

In a bid to encourage more users to use the wallet, the company is also running a “Diwali offer” till 31 October, wherein the money added to a wallet on the first recharge will be doubled. The offer is valid on a user’s first recharge for any amount between Rs300 and Rs5,000, the statement said.

Olacabs currently has over 25,000 cars available across 15 cities.