Prior to this, Ola had already introduced its Ola Money wallet, credit and debit card options to make cashless payments.
UPI is one of the easiest modes for funds transfers. The user just needs a bank account number, IFSC code, bank name and branch to be able to transfer money. With UPI, all you need is a Virtual Payment Address (VPA), a four-digit PIN and the money will automatically be debited from your bank account. So there is no need for carrying cash. One just needs use your credit or debit card or internet banking.
Users can use their Ola Money wallet to send and receive money, just like Paytm, Freecharge and Mobikwik.
Using Ola Money one can even recharge your prepaid mobile number, DTH, data card and refill your Mumbai Metro card. What’s more, you can even pay your electricity and gas bills using Ola Money.