Ola, the biggest competitor of the largest app-based transportation service in the world, i.e., Uber will be taking on PayTM, Mobikwik, and Freecharge with its new wallet app called Ola Money. This application has been listed in the Google play store, and it claims to be faster and safest way to make online payments.

A few months ago, Olacabs was targeted by security experts and hackers because of its weak security and since then the company had focused on user’s privacy and data security. It will be a huge setback for the company if OlaMoney is hacked in the coming months.

Ola Money, unlike PayTM, will ask you to register an account before you initiate money transfers or recharge your handset. You’ll be prompted to verify your mobile number.

This application will ask you to load funds into your digital wallet. You can add 599, 999 or 1999 Rupees. Users are allowed to skip this feature and navigate directly to the main interface.

When the verification is successful, and after the user adds money to his wallet, this app will display the below two options:

  1. Send money to a friend.
  2. Recharge/pay bills online.

This PayTM like the app can read your contacts, and it supports promo codes too. It maintains a history of all your mobile recharge and wallet transactions.

Ola Money can save your credit and debit cards for faster transactions. It supports mobile net banking too. This free wallet app can detect your network operator, and it will recommend valid top-ups, 2G and 3G plan to the user.

Ola money includes bookmarks to open shopping websites. The user will get cash back when they buy through Healthkart, Shopclues, Askmebazaar and many other Ola partner stores. [download link].

PayTM has a vast user base, and Ola’s new payment service will attract many of their users because of the cashback offers.

Along with Ola, Make my trip has unveiled its new service called Value+ in an attempt to take on two startups – Oyo and Zo rooms. OyoRooms, ZoRooms are giving nightmares to online travel companies. This can be seen from the fact that MakeMyTrip had recently blocked ads from these two startups from appearing on their website.

MMT seems to be worried because Oyo has raised 100 million USD it might affect their business in India. MMT Value Plus is an Internet-based tool for budget hotel room seekers.

The Value Plus service will be accessible on the desktop browser as well as in the app. The user will get access to details of rooms whose tariffs starts from Rupees 999. The hotels will offer free WiFi, television, Air conditioning system, breakfast and many other services to the user.

MakeMytrip.com has a huge listing of rooms for every budget. The company has already partnered with 1000+ hotels for its latest service. MMT is expected to incorporate the new Value+ module to its existing app on the play store.


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