Ola, Flipkart to launch credit cards, gain insights on spending patterns

April 30, 2019 |
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Banking
Ola, Flipkart to launch credit cards, gain insights on spending patterns

BENGALURU: Ola and Flipkart are gearing up to launch credit cards in partnership with large banks, several people familiar with the matter said. The move is seen giving these companies insight into the spending pattern of their card users and helping them enter an under-penetrated credit market. 

Ride-hailing startup Ola is set to launch a credit card, likely in partnership with State Bank of India (SBI), and begin pilots as early as next week, the persons cited earlier said, adding that the company plans to issue 1 million cards in the first year, leveraging its 150 million customer base. "Ola is betting big on credit-based payment as the next frontier of digital payments,"one of the persons said. 

 

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