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Several news sources are reporting that Japanese giant investor SoftBank Group is putting pressure on Indian ride-hailing company Ola to merge with American rival Uber as part of a consolidation plan in India which represent the fastest growing market for ride hailing. SoftBank is currently the largest investor in both the companies and are reported to have been holding talks for over a year concerning the merge. The wish of Softbank to see the deal go through intensified after Uber decided to leave the ride-hailing market of Southeast Asia after admitting defeat to local competitor Grab last week. Reports suggest that the deal will be completed in the coming two months as both companies wish to have controlling stakes in the deal. This is the main reason why the deal is taking so long ...

Taxi hailing app Ola said its wallet, which was earlier only used for paying for taxi rides can now be used on other platforms including budget hotel rooms aggregator Oyo Rooms, online spectacle retailer Lenskart, and music streaming service Saavan. The company expects to add more players from other retail categories. "We will be leveraging our customer base and provide (ola money) payments solutions for all categories including travel, on demand food and groceries," Rushil Goel, Head, Ola Money, told ET. "Soon we will also be launching offline in store partnerships with brands," he added without specifying the timeline. More than 50% of transactions on Ola are from its wallet. Ola does not hold a licence for a semi closed wallet and has tied up with mobile wallet Zip-Cash ...

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SoftBank Encouraging Uber to Merge Operations with Ola

Ola opens Ola wallet for Oyo Rooms, Lenskart and Saavan