Ola, the Indian taxi network service, is moving into new territory after it announced that its payment service app, Ola Money, would now travel into the realms of mobile recharge, post-paid bill services and money transfers.
The app was previously used for payment for OlaCabs, the original taxi service, but it will now allow users to make cashless payments to several other brands including hotel network OYO Rooms, music service Saavn and food delivery service TinyOwl.
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The app launched on Android this week and will soon be coming to iOS and Windows Phone. Ola claims that Ola Money is one of the largest wallets in the country and will be available to 40 million online and offline users. It has said that there are plans to expand the service to allow more online and offline paying as well as introducing new partners that users can make payments to.
The original mobile app, OlaCabs, originated as an online cab aggregator in Mumbai in 2010 and has been ranked among the fastest growing businesses in India. It has expanded across 85 cities and was estimated, in September 2015, at being worth $5bn.
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