Oxigen Services India Pvt. Ltd., an ISO 9001:2008 certified FinTech company, is one of the major payment solutions providers in India. It is involved in micropayment of services and remittances in real time. It was started in 2004 by, an alumnus of IIT Roorkee and listed company on South African Stock Exchange, Blue Label Telecom.
The payment solutions provider allows customers to make mobile/DTH recharges, money transfers through bank and Oxigen Wallet, utility bill payments, etc.
The firm reportedly has a retail footprint of 200,000 active outlets with 2 billion transactions processed as of January 2016. As per a recent media update, the transaction volume rate of Oxigen is 600 million transactions per annum with a customer base of more than 150 million.
Video Oxigen Services
Background
Started with a seed capital of Rs. 4 crore in 2004, the company was estimated at $150 million (Rs. 921 crore) in 2014.
In its initial rounds of investment, Oxigen Services received $11.5 million from Citi Venture Capital, USA in 2006 along with $35 million from Microsoft in 2008.
The firm is India's first non-banked mobile wallet, approved by RBI in 2013 for instant money transfers to any bank. These money transfers are available real-time in association with National Payments Corporation of India using IMPS.
The firm received an approval from the RBI in 2016 to be a part of the Bharat Bill Payment System, connecting users with the central bill payments and settlement system of National Payments Corporation of India.
The firm also set up 'Super PoS - Micro ATM' (point of sale) terminals to meet the requirements of merchants as well as banks. This Super PoS demonstrates features such as Micro ATM - Cash-In and Cash-Out, as per the specifications of NPCI, biometric scanner for Aadhaar transactions, Jan Dhan account servicing, merchant payments and eKYC.
Maps Oxigen Services
Services
- Money transfer
- Recharge
- Bill Payments
- Kiosk Banking (SBI Customer Service Point - no frills account) (RBL Kiosk Banking & Money Transfer Agent)
- Aadhaar and eKYC
- Ticket Booking (Railways/Airlines/Bus/Movie)
- Super PoS/Micro ATM
- Virtual Visa
- Mobile Wallet
Oxigen Wallet
Oxigen Wallet, powered by Oxigen Services Pvt. Ltd. is India's first non-bank wallet, approved by Reserve Bank of India allowing customers to send and receive money through popular social networking platforms.
As per a report published in April 2016 by VCCircle, the app claims to have 20 million users, is accepted at around 9,000 merchant locations and 10,000 online sites.
Oxigen Wallet provides solutions for money transfer, mobile & DTHTV payments, utility bill payments, gift cards, travel, movie ticket booking and Virtual Visa. Oxigen is the first online wallet allowing consumers to load cash in their mobile wallet. It enables individuals to transfer money, even if they don't have a bank account.
Oxigen enables payment solutions in different verticals with brand tie-ups listed below:
Travel
- Rajasthan State Road Transport Corporation
- redBus
- OYO Rooms
- MakeMyTrip
Entertainment
- BookMyShow
- PVR Cinemas
E-commerce
- ebay.in
- Indiatimes shopping
- Jabong
- Shopclues
Food & Beverage
- Café Coffee Day
Accessibility
Oxigen Wallet is available on the App Store, Google Play Store and Windows.
Awards & Recognition
- Best Prepaid Payment Instrument for 2014 by National Payments Corporation of India Excellence Awards
- Access to Banking & Financial Services - Use of Technology 2015 by Skoch Group
- Money Transfer Programme Award 2015 by Internet and Mobile Association of India
Projects
Aarambh Ventures is Oxigen's accelerator programme which helps startups to grow and innovate. Kalaage which was the first startup at Aarambh Ventures and it recently got funded.
Sponsorship
The firm appointed cricketer Sachin Tendulkar as its brand ambassador. Oxigen sponsors the Twenty20 squads of South Africa national cricket team and New Zealand national cricket team along with Indian Premier League's Gujarat Lions franchisee.
References
External links
- Official website
Source of the article : Wikipedia
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