Oxigen launches mWallet for sharing money on social networks

By Express News Service On Aug 14, 2014

how mobile wallet works,PayTM, MobiKwiK, Freecharge, mobile wallet providers, mobile wallets in india, mobile wallets wiki, mobile wallets rbi, paytm, payu, payumoney, payubiz, oxigen, oxigen wallet — Oxigen Oxigen Wallet is India’s first Non-Bank mobile wallet app, approved by RBI, which allows you to send and receive money through popular social channels like Facebook, Whatsapp, Twitter, SMS and Email. A customer can instantly send money to any mobile number or bank account in India, even if the recipient is not a registered Oxigen Wallet user. Oxigen Wallet services include money transfer/ Mobile/DTH/Data Recharges, Postpaid, Utility bill payments and Gift Cards for over 60+ brands. Customers also earn loyalty points that can be redeemed as cash into the wallet or as PayBack points. Oxigen Wallet, with 20 Million users, is a product of Oxigen Services Pvt. Ltd, accepted at over 9000 merchant locations and 10000 online sites like bookmyshow, ebay, PVR, OYO Rooms, Jabong and more.Loading money into Oxigen wallet app is easy; you can use credit cards, debit cards or pay cash over the counter through any of Oxigen’s 2,00,000 retailer / partners across the country. The wallet lets you schedule the payment as well. Spearheading the digital revolution, Oxigen Wallet, has entered into a strategic association with HPCL. While until now cash and cards had been the major accepted mode of payments at these petroleum pumps, the association is set to allow users to pay for fuel refills using Oxigen Wallet app.It also launched Virtual Visa.

Payment solutions provider Oxigen today launched its mobile wallet (mWallet) service, Oxigen Wallet, through which users can transfer money, purchase gifts for their friends and family on social networking platforms.

Besides, users would also be able to use their wallet to recharge their mobile phones, pay bills and shop across a large number of online merchants.

“Ours is the country’s first social mobile wallet service through which people can share money with their friends and family over their preferred social networks and messaging platforms like Facebook, WhatsApp, Google+, and Twitter,” Oxigen Chairman and Managing Director Pramod Saxena said.

The service will find a high usage among the youth who go out for meals with their friends, split bills, send smaller but more frequent gifts to one another, he added.

Besides, they can also use the service for their own mobile recharges, bill payments and for payments on merchant sites like for movie tickets, to book travel tickets, pay for pizza, get music and movie downloads, etc, Saxena said.

“Oxigen now sees the opportunity to leverage the social connect to India’s 900 million mobile users and 100 million Facebook accounts, where the youth is rapidly adopting social media apps like WhatsApp, Twitter etc,” he added.

By using the Oxigen Wallet service, which is currently available through Apple Store and Google Play Store, users can send money to their friends and family using their favourite social channel, without ever needing the receiver’s bank account details, Saxena said.

Along with money, users can also send photos, videos and audio and text messages to personalise the transfer. In the coming weeks, users will also be able to gift or ask for a mobile recharge, he added.

Oxigen has processed over 2 billion payment transactions exceeding Rs 20,000 crore, through small retail, modern retail chains and banking websites.

The firm processes nearly half a billion transactions annually and has already acquired 1.5 million mobile wallet accounts, clocking close to 1 million transactions a month.

Oxigen launches mWallet for sharing money on social networks

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