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Business Economy


Ola, ICICI Bank sign MoU

Ola, ICICI Bank sign MoU

Kolkata, Jan 10 (UNI) App cab aggregator Ola and ICICI Bank signed a Memorandum of Understanding (MoU) to bring forth a range of integrated offers to their customers and driver-partners.

Through this alliance, two of India’s popular brands will bring together their respective technology platforms to offer certain facilities, a release issued here yesterday said.

ICICI Bank customers can seamlessly book an Ola and pay the fare by using the bank’s mobile banking applications; ‘iMobile’ and ‘Pockets’.

The facility will help Ola customers get small ticket digital credit instantaneously from ICICI Bank on the Ola Platform. The digital credit will be available on the basis of a real-time credit assessment algorithm created by the bank. It is based on an intelligent combination of financial and digital behaviour patterns like ride frequency and amount among others.

The bank will instantly ascertain the creditworthiness of a customer and extend digital credit within a few seconds. The entire process will be completely digital, without requiring any paperwork.

ICICI Bank will offer a ‘Pay Direct’ card for Ola’s driver partners. With this, Ola’s auto and cab driver partners will be able to get their daily earnings directly into their ‘Pay Direct’ card accounts. Additionally, driver partners can also swipe this card at merchant outlets for their purchases.

The private bank will launch a new co-branded credit card in association with Ola. With this card, customers will benefit from several exclusive offers such as cashbacks and accelerated reward points.

UNI PL

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