Ola and Phone Pe form strategic partnership: A boost to the digital payments ecosystem

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As the world is combating the global pandemic, businesses are facing unforeseen challenges, financial downfalls, diminishing customer base and are emerging/coming up with new survival strategies to charter these unprecedented times.

Consumer behaviour towards the usage of major services has changed and customer concerns related to safety, hygiene have increased significantly, pushing firms to rewrite their growth strategies. Despite the various measures being taken towards maintaining safety and social distancing, users of these services are apprehensive. 

To face these challenges and to emerge with enhanced customer experiences, Ola, India’s biggest mobility services provider has partnered with PhonePe, the payments app which has revolutionized easy cashless payments. Customers can now make contactless digital payments for their rides through PhonePe and also enjoy features like digital wallets and UPI payments. This move will ease the customer’s ride-sharing experience and also facilitate convenient, secure, and accessible payments. The feature which is currently available on Android will soon be available on iOS.

The strategic partnership is in line with Ola’s latest ‘Ride Safe India’ campaign and it also promotes the Cashless India program for digitized payments. This partnership will act as a boost to India’s digital payments ecosystem.

Digital payments apps have revolutionized how transactions are settled in the country and have played a major role in instilling customer safety and security in the current scenario. A contactless payment facility has ensured risk-free and easy transactions. 

The benefits of such an alliance are many: Ola’s massive user base will now be accessible to PhonePe, and the alliance will increase the growth of both the firms due to integrated capabilities and benefits of increased scale.

The strategy has been implemented with an aim to revolutionize the mobility service sector and to evolve and adapt to the changing business environment. The platform has millions of users, along with driver-partners, whose livelihoods are dependent on the mobility service. The reduced business had an immense impact on them, with a fall in their income levels due to the lockdown. Thus revival of the business is of utmost priority, along with customer safety.

An introductory offer in the form of a cashback of Rs.200, on the first two rides paid using PhonePe, has been provided.

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