Taxi-aggregator Ola has acquired Chennai-based Qarth Technologies. It is a startup that has been incubated in IIT Madras, that offers multi-bank mobile payment solutions.
Ola is already in process of investing in creating digital payment solutions that will help create a seamless experience for users and merchants, it said. And the teams of Ola and Qarth tech. will be teaming up to create the digital payment solutions in order to provide the users with hassle free experience!
“With the acquisition of Qarth, we are also making significant technology investments to build forward looking digital payment solutions for the ecosystem,” said Pallav Singh, senior vice president and head, Ola Money.
Ola Money has also partnered with Mumbai Metro to enable commuters to recharge their metro cards using their Money app and is the exclusive digital payment partner for the Rajasthan State Road Transport Corporation.