When it comes to getting to your location on time, on-demand taxi services are likely to come to mind. Ola would undoubtedly be one of them. Ola, India’s largest domestic ride-hailing service firm and Uber’s biggest rival in India, was launched in 2011 with the goal of providing consumers with efficient transportation options. Every day, Ola services millions of consumers.
Here is how Ola generates revenue:
Ola takes a percentage of all trips booked through its platform as commission. It charges consumers for trip prices based on numerous parameters, some of which are applicable based on location, car type, and other considerations. Ola earns revenue through base fare, distance per km fare, ride time fare, wait for time fare, peak pricing fare, advance booking fare, convenience fare, cancellation fare etc.
Ola has launched its own money wallet, similar to PayTM and FreeCharge. Payments can be made at a variety of vendor touchpoints using Ola’s virtual wallet service. In addition, the wallet has its own cab-hailing payment services. Ola’s revenue is boosted by this.
Commuters are provided booklets, brochures, and other promotional materials. Advertisers’ live streaming adverts are played to market their products and services. For these promos, Ola charges a commission.
As per B strategy hub reports, Ola has partnered with SBI and Visa to launch the “Ola Money SBI Card,” a credit card. Customers who use the card can take advantage of a variety of bonuses and rewards.
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