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Indian Startups compete on Credit Card business – Paytm & Ola Cabs.

You can listen to the article here.

The motto of every business – Money…? Well, it seems to be revolving around it now.


Of course, it is now the scenario with startups but only 50% & the rest is under the claws of competition.

There a very few genuine startups that cope up & the rest of them don’t win a chance to stand in the market. Anyways, this is not our concern as this is a well-known metric & addressed by many startup advisors but now we are talking about

well established & well-funded startups (may not be startups any more) that are competing in the dark.

We are talking about the Paytm owned by One97 Technologies & Ola Cabs owned by ANI Technologies

First, PayTM launched credit card…
Pic credit Google: Paytm launched Credit Card with Citi Bank as the Banking Partner.
Within no time, Ola has launched its credit card…
Pic credit Google: Ola launched Credit Card with SBI as the Banking Partner.

Few hours gap for both the companies to launch their credit card business for their customer base. While Paytm is standing high with 300 million user base of which 40 million are already the debit card users, Ola brings on with half the count of 150 million Digital First (which is what Ola calls them) users.


While, there are other offers by both the cards on various verticals.

The Interesting Facts of the DARK COMPETITION:
  • The first & foremost thing being the Credit Card Launched with no time gap
  • Both the cards use Visa network for transactions along with the banking partners Citi Bank & State Bank of India for Paytm & Ola respectively.
  • Ola Money has no Paytm integration on their cabs ( as much as we know) & Paytm has payment integrated with Ola’s rival, cab-hailing provider Uber.
  • Launched with the same value of basic promotional offer (1% cash back on every transaction)
  • Both are Started in the same year, 2010 which is where the competition might be kept going & growing.

Let’s look at the offers provided by both the parties.

While Ola’s credit card is with multiple offers on various usages for the new-age Indian consumers with no joining fee,

Pic credit Your Story Media: Ola launched Credit Card
  • The Paytm First Card comes with an annual fee of Rs. 500 but it will be waived if spends exceed Rs. 50,000 per year
  • The card will offer Paytm promo codes worth Rs. 10,000 on spending a minimum of Rs. 10,000.
  • Paytm claims that it will offer unlimited one percent cash back, “without restrictions, auto-credited every month”.
  • It is also claimed to bring exclusive offers on dining, shopping, and travel among others through Citi Privileges platform

To be Noted:

  • Apple also has launched its credit card recently, called Apple Card.
  • The latest startup from the founder of Freecharge, Mr. Kunal Shah, CRED is based out of credit card users.

Sources: Economic Times, Your Story, Gadget 360

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