Ola Money partners with payment network app TWID

Ola Money has entered into an alliance with reward-based payment network app TWID, intending to provide consumers with an effortless payment experience through the TWID platform. The TWID app amasses loyalty/ reward points of banks, retail, entertainment, F&B, travel, etc. and enables customers to redeem the points easily. Through the partnership, checkouts will be a smooth process as the reward pool, Ola Money wallet and postpaid balance can be used seamlessly by individuals.

“Through this strategic tie-up, we are introducing single-click checkout where the existing balance of Ola Money Wallet gets clubbed with TWID’s partner reward pool and users get more buying power. Further, Ola Postpaid allows extra credit to the users to make seamless checkout across the TWID network”, enunciated Rishi Batra, Co-Founder & COO, TWID.

Prateek Jindal, Business Head, Ola Financial Services, expressed that, “This association is a significant step towards creating a holistic digital payments ecosystem that enables effortless purchases at TWID’s partner brands through both Ola Money wallet and OlaMoney Postpaid balance. Ola Money users can have extensive options to use Ola Money along with the consolidated rewards the consumer has, thus ensuring consumer delight.”

It offers services of short-term credit, mobile wallet, insurance and utility bill payments. Recently, its parent company ANI Technologies had decided to hive off the Ola Financial Services business which includes Ola Money.

Ola’s wallet segment has reported losses amounting to Rs. 13.76 crores during FY19 out of the overall loss of Rs. 2,593 crores.

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