OlaMoney

What OlaMoney does

OlaMoney is the digital financial services arm of Ola, operated by OLA Financial Services Private Limited (formerly Zipcash Card Services Private Limited, incorporated in Karnataka in 2007 and rebranded in 2019). The company offers three core products — OlaMoney Wallet (an RBI-authorized PPI/prepaid instrument), OlaMoney Postpaid (a BNPL service with 15–30 day credit lines and EMI conversion via IDFC First Bank), and the co-branded Ola Money SBI Credit Card (travel-rewards card with 7% cashback on Ola rides and Cleartrip bookings). It also operates as an IRDAI-registered Corporate Agent, distributing micro-insurance that scaled to 20M+ in-trip policies per month.

The underlying technology stack is a digital-first payments and credit platform tightly embedded in the Ola ride-hailing app — OlaMoney has no public API or developer portal and routes core functions (credit underwriting, card issuance, lending lines) through regulated partners SBI Card and IDFC First Bank. Its wallet was downgraded from Full KYC (₹2,00,000 limit) to Small PPI (₹10,000/month, no P2P) in April 2024. Distribution is concentrated on Ola's ~150 million-user mobility platform, with an additional 300+ merchant partners across travel, food, entertainment, and retail.

Revenue is generated through transaction and interchange fees on the co-branded credit card, interest and fees on Postpaid/BNPL (15–22% APR on EMI conversions), wallet transaction fees, and insurance commissions. Headcount is lean (11–50 employees), with the entity operating as a captive fintech layer inside the broader Ola ecosystem rather than a standalone scale-stage startup.

Name

OlaMoney

Legal name

OLA Financial Services Private Limited

Website

https://olamoney.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

OlaMoney is Ola's in-house digital financial services arm, offering a prepaid wallet, BNPL Postpaid product, and co-branded SBI travel credit card distributed primarily through the Ola ride-hailing app to Indian consumers.

Ownership category

akta.pro rank

Product category

Digital Payments and Consumer Credit

NAICS

Credit Card Issuing (522210)

SIC

Finance Services (6199)

akta.pro primary industry

Embedded Wallets (Platforms & Marketplaces) (FSAMAEAM)

akta.pro secondary industries

Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Recurring Billing & AutoPay Management (FSAMAJAE), Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods) (FSAMACAE)

Keywords

• Digital payments platform
• Buy now pay later
• Mobile wallet services
• Co-branded credit cards
• Embedded consumer finance

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. OlaMoney Postpaid/BNPL: Credit-based buy now pay later service allowing users to pay for rides and online services within 15-30 day billing cycles. Generates revenue through interest on extended credit and transaction fees.
2. OlaMoney Credit Card: Co-branded credit card with SBI Card offering cashback rewards. Revenue generated from interchange fees on transactions and interest on revolving balances.
3. EMI Facilitation: EMI options on Postpaid+ transactions above ₹3000 with 3, 6, 9, and 12 month tenures at 15-22% APR interest rates.
4. Wallet Services: Pre-paid wallet for digital transactions with monthly load limits. Full KYC wallets offer higher limits (₹2,00,000) while Small PPI wallets are limited to ₹10,000/month.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

OlaMoney operates a digital consumer financial services platform tightly integrated with the Ola ride-hailing ecosystem. It offers a pre-paid PPI wallet for cashless payments, a buy-now-pay-later service (OlaMoney Postpaid) with 15/30-day billing cycles and EMI conversion options (3-12 months at 15-22% APR), and a co-branded travel-focused credit card with SBI Card featuring up to 7% cashback on Ola rides. Products are distributed through the Ola app and accepted across 300+ merchant partners including travel, food, entertainment, and retail brands.

Product overview

OlaMoney is a digital financial services platform offering three core products: OlaMoney Wallet (a pre-paid instrument for cashless transactions), OlaMoney Postpaid (a BNPL credit service with 15-30 day credit lines), and OlaMoney Credit Card (a co-branded travel rewards card with SBI Card). The platform operates as a digital-first solution enabling payments across 300+ merchant partners including Ola rides, travel bookings, food delivery, and retail. The ecosystem is supported by partnerships with IDFC First Bank for lending and SBI Card for the credit card product.

Differentiator

Problem solved

Functional benefit

Brands

• OlaMoney Postpaid: Buy now pay later service offering credit lines for Ola rides and online services with 15/30 day billing cycles.
• OlaMoney Credit Card
• OlaMoney Wallet

Products and services

• OlaMoney Wallet Pre-paid digital wallet (PPI) issued under RBI guidelines that enables cashless payments for Ola cab fares, mobile bills, DTH recharges, electricity and gas bills, and online shopping across 300+ merchant partners. Available as a Small PPI wallet with a ₹10,000/month load limit or a Full KYC wallet with limits up to ₹2,00,000 per transaction, for Indian consumers in the Ola ecosystem.
• OlaMoney Postpaid Buy-now-pay-later credit service offering a 15-30 day interest-free credit line to Ola app users for cab rides and purchases across partner merchants. Users pay later in a single settlement instead of pre-loading their wallet, with the underlying credit line facilitated through IDFC First Bank. Targeted at Indian consumers in the Ola ecosystem.
• OlaMoney Credit Card Co-branded Visa travel credit card issued by SBI Card in partnership with OlaMoney, offering 7% cashback on Ola rides (capped at ₹500/month), 5% on Cleartrip flights, 10% on Cleartrip hotel bookings, and 1% on other spends, with no joining fee. Targeted at Indian consumers who frequently spend on mobility and travel, leveraging Ola's user base for distribution.
• OlaMoney Postpaid+ EMI EMI conversion add-on for OlaMoney Postpaid that allows users to convert Postpaid transactions above ₹3,000 into structured monthly installments of 3, 6, 9, or 12 months at 15-22% APR, with zero-cost EMI available for 3-month tenures. Credit is underwritten by IDFC First Bank. Designed for Indian consumers making larger digital purchases who want to spread repayment over multiple months.

Quantifiable outcome

• 20 million+ micro-insurance policies availed per month
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• SBI CardcoreStrategic or Co-development PartnerCo-branded Ola Money SBI Credit Card launched in May 2019. SBI Card issues the credit card while OlaMoney facilitates distribution through its platform. The card offers 7% cashback on Ola rides, 5% on Cleartrip flights, and 10% on Cleartrip hotels. No joining fee.
• IDFC First BankcoreStrategic or Co-development PartnerIDFC First Bank partners with OlaMoney for Postpaid+ EMI services and lending facilities. The bank provides the credit line while OFS facilitates the product through the Ola app. EMI conversions available for transactions above ₹3000 at 15-22% APR.
• Ola (Parent Company)coreTechnology or IntegrationOlaMoney is deeply integrated into the Ola ride-hailing platform, enabling seamless payments for cab rides and access to Ola's 150 million+ user base. OlaMoney serves as the primary digital payment solution for Ola services.
• 300+ Merchant PartnersminorChannel Partner/ Reseller/ DistributorNetwork of 300+ merchants including travel (Cleartrip, Redbus, SpiceJet), food (Dominos, Foodpanda, Box8), entertainment (BookMyShow), health (PharmEasy, 1mg), and retail brands where OlaMoney wallet and Postpaid can be used for payments.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• KreditBee: India-focused digital lending platform offering personal loans and BNPL-style credit to new-to-credit consumers. Comparable to OlaMoney Postpaid in serving thin-file, mobile-first Indian consumers.
• Jupiter: India-focused neo-bank offering a digital wallet, savings account, payments and credit features to salaried consumers. Comparable emerging consumer fintech positioning against OlaMoney's wallet + credit roadmap.

Broad incumbents

• Google Pay India: UPI-led payments app with dominant market share in India's P2P and merchant payments. Competes with OlaMoney Wallet for everyday payment mindshare and merchant acceptance.
• Amazon Pay India: Wallet and payment instrument embedded in the Amazon India shopping ecosystem, with bill pay and small-credit features. Comparable as an embedded payments incumbent competing for the same consumer wallet.

Direct peers

• Simpl: One-click checkout and pay-later platform used by 1000+ online merchants. Direct competitor to OlaMoney Postpaid for the BNPL/checkout-financing use case.
• Mobikwik: Listed Indian PPI wallet operator with its own ZIP (BNPL) product, credit line and merchant payments. Closely comparable product mix (wallet + BNPL + credit) to OlaMoney, serving similar urban consumer segments.
• Paytm: India's largest listed consumer fintech offering a Paytm Wallet (PPI), Paytm Postpaid (BNPL), Paytm Credit Card and bill payments. Directly comparable to OlaMoney's wallet + BNPL + co-branded credit card stack, though at much larger scale.
• LazyPay: PayU-owned BNPL product offering short-term credit lines at checkout across 300+ merchants. Directly comparable to OlaMoney Postpaid in target use case (pay-later at merchant checkout).
• Slice (by North East Small Finance Bank): Indian consumer fintech offering a co-branded credit card, pay-later and savings products to young, mobile-first users. Comparable in target segment and product mix to OlaMoney Credit Card + Postpaid.
• PhonePe: India's leading UPI-driven digital payments platform with an expanding wallet, credit (PhonePe Loan, Credit Card on UPI) and merchant acceptance business. Direct peer to OlaMoney Wallet and Postpaid in the consumer payments space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/olamoney_in
• Facebookfacebook.com/OlaMoneyOfficial

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OlaMoney