Ola acquire Qarth, a startup that built mobile payment system X-Pay. X-Pay provides convenient SMS banking on IMPS platform

Ola Smart Cab Service has acquired Qarth a mobile payment startup to boost Ola Money. Ola is a successful cab rental service that was started in December 2010. The service offer cab booking through Android, Windows and iOS apps. Before the service was not having any automated wallet payment system. With Ola Money it is convenient for users to pay through Credit/Debit card or Netbanking.

They just have to load money in the wallet and the amount will be dedicated automatically. Ola acquire Qarth that has created an app called as X-Pay. X-Pay is a mobile based payment system. Qarth will be integrated with Ola money to initiate a comfortable payment process. X-pay app is available for mobile platform. The core feature of X-Play is to provide a smooth and secure SMS banking support. It works through IMPS that provide instant payment.

Qarth is tied up with different banks for the same. To use X-Pay one requirement is that you must have a bank that has an IMPS facility available. This facility is mostly provided by all private and nationalized banks. IMPS is an effective 24×7 mobile payment service. The app currently tied up with 26banks around India. With this it also supports 45 private and public banks.

Anand Subramanian, Senior Director, Marketing Communications at Ola Statement on Qarth Acquisition – As we work towards our mission of building mobility for a billion people, we will continue to build for a best in class payment experience for our users

Takeaways:

• Ola will use X-Pay to extend its Ola Money platform for more convenient and security payment.
• Users of Android, Windows and iOS can now use the app to pay for cab services.