Newest partnership on the block: Ola partners SBI and PNB to set up Mobile ATMs

With the newest partnership on the block, customers can now withdraw cash by simply swiping their debit cards in selected Ola Cabs. Ola has recently signed a partnership with the State Bank of India and Punjab National Bank to help people out with cash after the tedious demonetization move. Each person will be allowed to withdraw a maximum sum of INR 2000.

Just like cash being dispensed in petrol pumps, Ola is trying to help people out with INR 100 and the new INR 2000 notes. The testing of this new feature is being done in Kolkata and Hyderabad as taxis are now being equipped with bank officers and a POS machine. In Kolkata, Ola tied up with Punjab National Bank while in Hyderabad Ola entered into a partnership with SBI and Andhra Bank.

Related Post: Impact of demonetization of notes on e-commerce and startups

Since the initial response has been great, Ola is currently planning to extend this service to other curies as well.

“The week-long activity, that is already servicing thousands of citizens, will continue till end of the month. It (cabs) will visit areas like Chandni Chowk Metro Station, Esplanade Metro, Barabazaar, Salt Lake, Exide and Rashbehari (in Kolkata). Cars carrying POS machine are servicing citizens in popular areas in Hyderabad like KBR Park, JNTU, Inorbit Mall over the weekend. We are also looking at flagging off the programme in other key cities, including Delhi. The banks are providing on-ground executives to enable people withdraw cash seamlessly.” -Pranay Jivrajka, Chief Operating officer, Ola Cabs

This new partnership will benefit people in a huge way because there are long queues outside ATMs daily. This feature will provide relief to people who need cash instantly. Ola also has its own mobile wallet service which has seen a 1500% growth since the demonetization move.

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