In a move to enrich the customer experience of millions of the homegrown ridehailing platform's users, Ola has partnered the state-run SBI cards to launch Ola Money SBI Credit Card, a day after Paytm launched its 'Paytm First Card'.

The card, which is powered by Visa, will be without any joining fees and provide seamless, flexible and convenient payments to the car hailing platform's customers.

Ola users will be able to apply, view and manage their Credit Card directly on the Ola app with a few taps and the customers can also enroll for the credit card on Ola's website.

We’re excited to launch India's most rewarding Credit Card: the Ola Money SBI Card in association with @SBICard_Connect, @Visa_IND. This card will be a driving force for India's digital economy, making cutting edge payment solutions accessible to millions https://t.co/jK6rSSsr8X pic.twitter.com/y01yD7PMSc

— Bhavish Aggarwal (@bhash) May 15, 2019

Like the Paytm First Card, Ola is also offering cashback on its credit card. The company said the cashback and rewards, will be instantly credited to their accounts in the form of Ola Money with lifetime validity which can be redeemed against Ola rides as well as flight and hotel bookings. You have also option to get the cashbacks in your bank account and not in Ola Money.

Cashback offer from Ola credit card includes:

7 percent cashback on Ola Cab spends.

5 percent cashback on flight bookings.

20 percent cashback on domestic hotel bookings.

6 percent cashback on international hotel bookings.

20 percent cashback on over 6,000 restaurants across the country.

1 percent cashback on other spends.

1 percent surcharge waiver on all fuel transactions.

"Mobility spends form a significant wallet share for users and we see a huge opportunity to transform their payments experience with this solution," said Bhavish Aggarwal, Ola co-founder and CEO.

Ola is targeting 10 million Ola Money-SBI Credit Cards to be issued by 2022.