Post Budget reaction- Oxigen Services on FM’s cashless society vision

“In continuation of the PM Jan Dhan Yojana, we believe that this is an logoadditional positive push to promote cash-less transactions and usage of digital money. The digitization of money at lower level and the JAM trinity (Jandhan, AADHAR and Mobile Access) will redefine and transform the economy to cashless. This will help in further alignment of the mobile wallets, cash in and cash outs and overall the mobile technology. We at Oxigen operate through Mobile, Pcs, Biometric point of sale terminals and BCs. Furthermore, our cash in/ cash out ports will further assist us in materializing the cash less dream. We are very positive on this push and support digitization at all level.”says Pramod Saxena, founder and CMD, Oxigen services India.

Oxigen Wallet is powered by Oxigen Services Pvt. Ltd, India’s largest payment service provider. Oxigen services has also applied for Payment bank licence.

Fact Sheet

  • Founded in 2004 with Seed Capital- 5.40 Crores (Personal Savings). First Year Turnover- 44 Crores
  • Oxigen Wallet, launched in 2008, is the first virtual wallet in India to be integrated with NPCI (National Payments Corporation of India) that allows for Instant Money Transfers anytime, anywhere using IMPS.
  • Oxigen connects to over 150,000 customer touch points (retail outlets and chains), aggregating services from 50+ brands, Oxigen has 40 million + transactions per month.
  • Oxigen launched the country’s first social media wallet app for iOS , Android and Windows Phone user in August 2014 – Oxigen Wallet that enables users to share money over social networks and messaging platforms like Facebook, WhatsApp, Google+, and Twitter.
  •  This year Oxigen has become the country’s first Non-bank to launch eKYC services with National Payments Corporation of India (NPCI) for Financial Inclusion
  • Oxigen Wallet has exclusive tie up with Café Coffee Day (CCD) for payments through the wallet at CCD outlets pan India. CCD which is India’s favourite coffee shop and hangout place has more than 1400 locations pan India
  • Oxigen wallet is accepted at more than 3000 merchant locations, including 1400 Café Coffee Day outlets, and over 2000 online sites like Ebay, Bookmyshow etc
  • This Fiscal year (2014-March, 2015) Oxigen is hopeful to touch total annual gross transaction value Rs. 8000 crores
  •  Oxigen has applied for Payment Bank license.
Filed in: budget 2015

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