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Ola

How To Activate, Setup And Use Ola Money Postpaid

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Ola, one of the world’s largest ridesharing platforms. A few months ago, the platform has introduced a new payment feature through its application which is known as the Ola Money Postpaid.

Ola Money Postpaid

The service which was introduced last year on a pilot basis received a huge response and there is an increase of up to 30% from month to month. Through this feature, the Ola users will be receiving a credit line for up to 15 days which means the users can ride now and pay 15 days later.

According to the users who have already been using this fantastic feature, this is an amazing and seamless feature which can be easily enabled with a simple and single click. It doesn’t need any kind of OTP or passwords for setting up the process of payment.

This can be one of the best and smartest payment ways.

Activating The Ola Money Postpaid

If you find this service interesting and useful and would like to make use of it, then you just need to go through a few simple steps for activating the feature in your account. The steps may include

  • First, you should be logged into your Ola account in your Ola application in your mobile.
  • Now click on the Payments option find in the settings menu
  • Then tap on the Ola Money Postpaid Invite button over there
  • Then finally the users need to select get started button to finish the process of activation

Now, if you are worried about how to clear the postpaid money that gets accumulated in your postpaid money account and waits for you to clear it after 15 days of usage, then here are the simple steps involved in it. Just follow these and stay free.

  • Under the application settings, go to payments section
  • Now click on the Ola Money postpaid and then it will show the amount that are due to pay
  • Click on clear dues
  • Now select the payment method and pay the amount.
  • That is it. You are done.

Ola cabs introduced two new features

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Ola today introduced two more innovative features to its cab booking platform named “Just in Time” and “Rich Notifications”. 

Till now when there is no cab available,  users need to stick to the Ola application’s interface to confirm the next available cab. Otherwise if they  navigate away from the application they loose the opportunity to book the cab . 

The new “Just in Time” feature informs the cab availability to the user even though he went away from the application within 15 mins time frame.  

Sometimes people disappoint about the peak pricing and close the Ola application to find other ways for their travel. “Just in Time” also notifies the user if the peak rates became normal in the next 15 mins. 

The second interesting feature “Rich Notifications” helps the Ola users to track booked cab from the Android notification panel , you no need to open Ola application for tracking and other purposes . The SOS emergency button is also now embedded as the Rich Notification entry . 

Ola, Uber surge pricing, Govt. put a cap soon 

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Image: captured now while traveling in Ola

Did you suffered with the Ola, Uber surge pricing? Then here is a good news for you. Ministry of Road and Transport constituted a special panel to submit recommendations on cab aggregated services like Ola and Uber. 

The special panel has to submit it’s report by the end of next month. Before taking any decision panel and Govt. should consider the welfare of both the parties i.e customers and the Taxi services. 

A few days back I already wrote on how can cab services like Ola and Uber offering cabs at cheap prices. Actually they are getting huge losses day by day. But the companies are thinking it as the part of the business. They implementing long-term strategies along with minimizing losses in short term by applying surge pricing. 

If the Govt. Of India defines maximum limit on surge pricing the taxi companies might experience additional financial burden. On the other hand, the customers also suffering with the double, sometimes triple surge prices in the peak hours. 

Whatever the policy Govt. is going to bring, ultimately a perfect harmony in the industry is essential immediately. 

How Ola, Uber offer cheap cabs? Secret behind the scene

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Secret behind Ola Uber

While traveling in Ola, Uber cabs you might be surprised about how they are making profits by offering cheap cabs at auto prices.

There are a lot of interesting things happening in Cab-riding industry. First of all, we need to understand that both the operators have substantial investments from world’s top investors like SoftBank, Matrix Partners, and Tiger Global Series B, Amazon, etc.,

The bitter fact is that till now both the companies didn’t make any significant profits worldwide including India. Similar to other startups they are initially investing huge funds in acquiring the major market share.

First, they identified the potentiality in the cab-riding industry. Until Ola and Uber arrival people mainly depending on the unorganized and nonprofessional auto sector. By offering similar pricing to the customers Ola, Uber migrated the customers from Autos to AC Cabs.

At present increasing the client’s base is the primary target for those companies. In the later stages, they focus on break-even and making profits. Both the companies suffering from huge losses, but they don’t care. Gradually they are minimizing the losses by implementing innovative strategies in recent days.

How much losses the companies making?

If we analyze the income and expenditure of one Ola cab, we can get an idea of the facts behind the scene.

Take driver Srinivas as an example. He makes nine rides per day. Ola in return pays Rs. 3,000 as gross, deducts 20% commission, i.e. Rs. 600 and the net revenue for the driver is Rs. 2,400.

So Ola spends Rs. 2,400 per day on Srinivas. Each ride Srinivas finished may earn Rs. 150 on an average. So for his nine trips, Ola makes Rs. 1,350 (Rs. 150×9 trips)+600 as commission, and the total is Rs. 1,950.

So for every driver Ola gets a big loss of Rs. 1,050 (Rs. 3000 what they paid to the driver minus Rs. 1,950 it earns from the trips).

How are they minimizing the losses?

Ola and Uber are gradually implementing few measures to reduce the losses.

1. Surge pricing:

In the initial days, there are no peak-time charges for the customers. But now, except a few hours, round the clock, we are greeted with peak charges while booking the cab. 1.4x, 2x peak prices reduce the losses drastically. Ola started “Ola Select” subscription and charging Rs. 549 per month to get rid of peak pricing. Most of the users paying the subscription to overcome peak-time. This is the additional income for the company.

2. Reducing incentives to the drivers:

Until last year, every driver running cabs in Ola, and Uber made up to Rs. 1 Lakh per month revenue. But this year the companies reduced the daily incentives. At present Ola Mini, Micro cab drivers getting only Rs. 25-30 thousand net income per month while Prime and SUV owners are getting Rs. 30-35 thousand per month.

3. Grocery delivery

Ola started Ola Store to deliver groceries to the households and also to partner with mobile manufacturing companies like OnePlus to deliver smartphones to the doorsteps. All these innovative ideas make a certain amount of revenue.

But whatever the strategies they are following to succeed in the market, it seems like a bubble to the customers and the drivers. Drivers have a lot of doubts in their minds about the future of the both the companies.