Ola’s digital wallet Ola Money can now be used to pay for utility bills like gas and electricity. It will be accepted at:
– BESCOM in Bangalore
– BSES Yamuna & Rajdhani and Noida Power, Indraprastha Gas in Delhi
– MAHAVITARAN in Maharashtra
– Mahanagar Gas and Reliance Energy in Mumbai and
– Rajasthan Vidhyut Vitran Nigam Ltd
Note that last week, the RBI increased the monthly limit for adding money to digital wallets from Rs 10,000 to Rs 20,000 till 30 December 2016.
Ola Money claims to be one of the top mobile wallets in the country by average wallet size but does not mention the average ticket size. It also claims to have “millions of customers” but does not provide absolute numbers. Earlier this month, Ola said that Ola Money, saw a 1500% increase in recharge on 8 November following the devaluation of Rs 1000 notes by the Indian government. For smaller towns and cities, which usually rely on cash payments, Ola Money’s growth was 30x.
Ola Money began as a closed system payment instrument in 2014. Ola tied up with ZipCash in August 2015 to offer the wallet service to other companies as well. In the same month, Ola Money was made a payment mode for Oyo Rooms, Lenskart and Saavn among others across India. Three months following this, Ola launched a separate Android app for Ola Money, which could do mobile recharges, money transfers and be used on other platforms.
This year, Ola Money partnered with online marketplaces eBay and YepMe and could be used to recharge prepaid metrocards for Mumbai Metro and book tickets via Rajasthan State Road Transport Corporation’s (RSRTC) online portal.
Mobile wallet adoption in the physical world:
– Last week, MobiKwik became a mode of payment at 391 toll booths on Indian Highways and on IRCTC.
– Paytm could also be used to pay highway tolls at 40 toll plazas across the country. FreeCharge could be used for railway ticket bookings on IRCTC. Travelyaari users could also pay through Paytm and Reliance Jio wallets at select offline counters.
– FreeCharge also formed partnerships with Cleartrip and Redbus for payments. It also signed a partnership with supermarket chain Heritage Fresh for payments in Hyderabad, Bangalore and Chennai. FreeCharge could also be used to pay for MTNL broadband, landline, and other bills.
– Oxigen has partnered with eBay India to give access to its network of 200,000 retail outlets.