Ola has partnered with SBI to launch ‘Ola Money SBI Credit Card’. The card, which is powered by Visa, will offer a simplified application process, without joining fees with seamless, flexible and convenient payments, the company said in a statement. Ola is targeting 10 million Ola Money-SBI Credit Cards to be issued by 2022.
Ola users will be able to apply, view and manage their Credit Card directly on the Ola app. Card users will also be offered cash back and rewards, instantly credited to their accounts in the form of Ola Money which can be redeemed against Ola rides, flight and hotel bookings, with lifetime validity.
Some of the offers on this credit card include 7% cashback on Ola cab spends, 5% cashback on flight bookings, 20% on domestic hotel bookings, 6% on international hotel bookings, 1% fuel surcharge waiver on fuel transactions, 20% back at restaurants and 1% on all other spends.