Ola to roll out postpaid service for 150 million users

Ola to roll out postpaid service for 150 million users

Cab-hailing app Ola on Thursday said it will roll out digital credit payment Ola Money Postpaid to all its 150 million users in the country.

The offering launched last year as a pilot, has seen 30 per cent growth month-on-month.

Ola Money Postpaid that offers a 15 day credit line, is at present being used by more than 10 per cent of the cab aggegator's customers and 90 per cent of the early adopters have used the offering more than once, it said in a statement.

"The growing preference for transparent, seamless and secure transactions has seen Ola Money Postpaid redefine the way people commute. Fuelled by the momentum, Ola will extend the offering to all its customers in coming months and increase credit line offering and billing cycle to 30 days. The Ola Money Postpaid offering is made available to customers basis internal big data risk scoring algorithms," it said. ******** Paytm launches online food ordering in partnership with Zomato *

Digital payments firm Paytm on Thursday said it has launched online food ordering in partnership with Zomato, through its mobile app.

Starting with Delhi-NCR, it aims to cover more than 80,000 restaurants across 100 cities by end of this month, where Zomato has presence.

Paytm that has a strong user-base across tier II and tier III cities, with this integration aims for a substantial rise in online food ordering penetration in these cities.

Food and beverage is among one of the largest payment categories for Paytm both in terms of volume and number of transactions and this association would further strengthen Paytm's drive of enabling seamless mobile payments for purchasing food both online and offline, it said in a statement. ******************* Parag Milk Foods expands premium brand Pride of Cows to Delhi *

Dairy firm Parag Milk Foods on Thursday said it has expanded its premium milk brand Pride of Cows in National Capital and will airlift the milk from its dairy farm in Manchar, near Pune.

The expansion aims to strengthen Parag Milk Food's offerings in North. As part of the investment, the company will majorly focus on logistics and distribution, it said in a statement.

The company's revenues from Pride of Cows has grown at a CAGR of 28 per cent over FY13-18 and is expected to continue in the same vein and it aims to double the revenue from the segment with a high double digit growth in the next two years.

"Delhi NCR is the largest milk market of the country valued at around Rs 11,000 crore and with Pride of Cows, we are going one-step further in strengthening our presence in cow's milk in the region...With the aim to reach out to more households across the country, we plan to increase the production at our farm," Parag Milk Foods Chairman Devendra Shah said.