HomeNewsTaking on Demonetization: Ola partners with various banks to introduce Mobile ATMs

Taking on Demonetization: Ola partners with various banks to introduce Mobile ATMs

The cab aggregator service recently launched 'Ola Credit' through which riders can take a ride on credit and pay for it later.

To help settle in people during this hour of demonetization, Ola partnered with YES Bank to set up Mobile ATMs and help people withdraw cash conveniently by swiping their Debit Card from any bank.
Ola
As per the report, the service is available in over 30 locations spread across 10 cities which include Mumbai, Delhi, Bangalore, Chennai, Pune, Kolkata, Chandigarh, Ahmedabad, Hyderabad, and Jaipur. Post this partnership, Ola cabs will be stationed at different YES Bank branches with PoS (Point of Sale) Machines inside where people can swipe their Debit Cards to withdraw an amount up to Rs 2000 per card.

Before this, YES Bank came up with a waiver of MDR charges for all Debit Card transactions across RuPay, MasterCard and Visa platforms at all its Merchant locations, including online transactions up to 30th December’ 16. MDR i.e. Merchant Discount Rate is basically the fee charged to the merchant by the bank for providing card acceptance services.

Apart from YES Bank, Ola recently partnered with Punjab National Bank as well to roll out PNB ATM Machine equipped Ola cabs. The service was launched on 1st December and Ola claims that it has already served more than 15,000 customers. The service will continue for next 3 weeks and is available in areas like Gurgaon, Laxminagar, Janakpuri, Civil Lines, AIIMS, NSP, Manesar, Nehru Place, Bhikaji Cama Place, Mayur Vihar, Faridabad, Tilak Nagar, Rajouri Garden and Greater Kailash; with Ola volunteers and PNB executive present there to assist people in withdrawing cash without any hassle.

Ola boasts that it is one of the leaders in the country using digital technology facilitating payments. The cab aggregator service recently launched ‘Ola Credit’ through which riders can take a ride on credit and pay for it later which the company claims comes in really handy when India is going through this phase of demonetization.

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