Oxigen Services
{{Short description|Indian fintech company}}
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{{Infobox dot-com company
| name = Oxigen Services India Pvt. Ltd.
| logo = OxigenLogo.png
| type = Private
| foundation = {{Start date and age |df=yes|2004|07}}
| founder = Pramod Saxena
| location = Gurugram
| area_served = India
| industry = Financial Technology
| services = Recharge, Bill Payment, Money transfer, Ticket Booking, Online/Offline Shopping, Mobile Wallet
| website = {{URL|http://myoxigen.com/}}
}}
Oxigen Services is an Indian fintech company that provides micropayments, money transfer and online remittances.{{cite news | url=http://articles.economictimes.indiatimes.com/2015-09-25/news/66884664_1_brand-ambassador-sachin-tendulkar-retail-footprint | archive-url=https://web.archive.org/web/20160820120910/http://articles.economictimes.indiatimes.com/2015-09-25/news/66884664_1_brand-ambassador-sachin-tendulkar-retail-footprint | url-status=dead | archive-date=20 August 2016 | title=Oxigen ropes in Sachin Tendulkar as its brand ambassador | work=The Times of India | date=25 September 2015 | access-date=24 June 2016}}{{Cite news|title=Future group ties up with Oxigen for its e-comm venture|newspaper=Business Standard India|date=17 February 2016|url=http://www.business-standard.com/article/companies/future-group-ties-up-with-oxigen-for-its-e-comm-venture-116021700607_1.html}}
{{As of |2016}}, the company reported that its transaction volume rate was 600 million transactions per year with a customer base of more than 150 million.{{cite news | url=http://www.financialexpress.com/article/industry/companies/oxigen-visa-tie-up-to-breathe-new-life-into-e-wallet-business/192987/ | title=Oxigen, Visa tie up to breathe new life into e-wallet business | publisher=The Financial Express (India) | date=13 January 2016 | access-date=24 June 2016}}
History
The company was started in 2004 by an alumnus of IIT Roorkee with seed capital of ₹4 crores.{{cite news|date=25 November 2014|title=Payments solutions firm Oxigen Services in talks to raise $50M funding|publisher=VCCircle|url=http://www.vccircle.com/news/technology/2014/11/25/payments-solutions-firm-oxigen-services-talks-raise-50m-funding|access-date=24 June 2016}}{{cite web|date=7 October 2014|title=How Saxena built a Rs 921 cr empire with seed capital of Rs 4 cr|url=http://www.franchiseindia.com/entrepreneur/interview/established/techpreneur/How-Saxena-built-a-Rs-921-cr-empire-with-seed-capital-of-Rs-4-cr-278/|access-date=24 June 2016}}
In 2006, Oxigen Services received $11.5 million from Citi Venture Capital, USA and then $35 million from Microsoft in 2008.{{cite news|date=25 November 2014|title=Oxigen Services India in talks to raise Rs 1,230 crore|publisher=The Economic Times|url=http://articles.economictimes.indiatimes.com/2014-11-25/news/56455330_1_cx-partners-ajay-relan-mobikwik|archive-url=https://web.archive.org/web/20141128175746/http://articles.economictimes.indiatimes.com/2014-11-25/news/56455330_1_cx-partners-ajay-relan-mobikwik|url-status=dead|archive-date=28 November 2014|access-date=24 June 2016}}
In 2013, the firm launched India’s first non-bank mobile wallet, approved by Reserve Bank of India (RBI) for instant money transfers to any bank.{{Cite web|date=2014-08-14|title=Oxigen launches India's first mobile wallet|url=https://www.dqindia.com/oxigen-launches-india-s-mobile-wallet/|access-date=2021-08-18|website=DATAQUEST|language=en-US}}{{Cite news|title=Oxigen Services India Pvt. Ltd.|work=The Economic Times|url=https://economictimes.indiatimes.com/csr-compendium-touching-lives-2016/company/oxigen-services-india-pvt-ltd-/articleshow/56137752.cms?from=mdr|access-date=2021-08-18}}{{Cite web|title=Reserve Bank of India - Publications|url=https://m.rbi.org.in/scripts/publicationsview.aspx?id=12043|access-date=2021-08-18|website=m.rbi.org.in}} These money transfers were available real-time in association with National Payments Corporation of India using IMPS.{{cite news | url=http://www.moneycontrol.com/news/business/oxigennpci-launch-oxicash-money-transfer_866107.html | title=Oxigen & NPCI launch OxiCash Money Transfer | publisher=Moneycontrol.com | date=7 May 2013 | access-date=24 June 2016}}
In 2016, Oxigen became a part of the Bharat Bill Payment System to connect users with the central bill payments and settlement system of National Payments Corporation of India.{{cite news | url=http://timesofindia.indiatimes.com/tech/tech-news/Oxigen-gets-RBI-nod-for-Bharat-Bill-Payments-System/articleshow/52297988.cms | title=Oxigen gets RBI nod for Bharat Bill Payments System | work=The Times of India | date=16 May 2016 | access-date=24 June 2016}}
In 2015, the firm set up ‘Super PoS - Micro ATM’ (point of sale) terminals to allow merchants to provide payment services.{{cite news | url=http://www.thehindubusinessline.com/money-and-banking/now-a-super-pos-device-with-multiple-functions/article7550905.ece | title=Now, a 'Super PoS' device with multiple functions | publisher=The Hindu Business Line | date=17 August 2015 | access-date=24 June 2016}} This Super PoS worked as Micro ATM - Cash-In and Cash-Out, biometric scanner for Aadhaar transactions, Jan Dhan account servicing, merchant payments and eKYC.{{cite web | url=http://www.firstpost.com/business/oxigen-launches-super-pos-device-with-multiple-functions-2407094.html | title=Oxigen launches 'super PoS' device with multiple functions | publisher=Firstpost | date=25 August 2015 | access-date=24 June 2016}}
Services
- Money transfer{{cite news|date=17 February 2016|title=Future group ties up with Oxigen for its e-comm venture|publisher=Business Standard|url=http://www.business-standard.com/article/companies/future-group-ties-up-with-oxigen-for-its-e-comm-venture-116021700607_1.html|access-date=24 June 2016}}
- Recharge
- Bill Payments
- Kiosk Banking (SBI Customer Service Point - no frills account) (RBL Kiosk Banking & Money Transfer Agent){{cite web | url=http://telecom.economictimes.indiatimes.com/tele-talk/how-oxigen-is-positioning-itself-in-indian-mobile-payment-ecosystem/1336 | title=How Oxigen is positioning itself in Indian mobile payment ecosystem? | date=5 March 2016 | access-date=24 June 2016}}{{cite web | url=https://www.telegraphindia.com/?mode=details&id=28376 | title=Oxigen-SBI Kiosk Banks achieve 500 Crores of Banking transactions in its First year of Operations | publisher=The Telegraph | date=27 September 2011 | access-date=24 June 2016}}
- Aadhaar and eKYC
- Ticket Booking (Railways/Airlines/Bus/Movie)
- Super PoS/Micro ATM
- Virtual Visa
- Mobile Wallet
Wallet
Oxigen Wallet 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.{{cite news | url=http://articles.economictimes.indiatimes.com/2015-11-11/news/68192210_1_visa-rupay-mastercard | archive-url=https://web.archive.org/web/20151119152925/http://articles.economictimes.indiatimes.com/2015-11-11/news/68192210_1_visa-rupay-mastercard | url-status=dead | archive-date=19 November 2015 | title=Oxigen launched Prepaid Visa card, and is in talks with RuPay to launch virtual prepaid cards | publisher=The Economic Times | date=11 November 2015 | access-date=25 June 2016}}{{cite news | url=http://www.business-standard.com/article/technology/money-goes-social-with-oxigen-s-new-wallet-114081300669_1.html | title=Money goes social with Oxigen's new wallet | publisher=Business Standard | date=13 August 2014 | access-date=25 June 2016}}
As per a report published in April 2016 by VCCircle, the app claims to have 20 million users, and is accepted at around 9,000 merchant locations and 10,000 online sites.{{cite web | url=http://techcircle.vccircle.com/2016/04/13/oxigen-wallet-names-former-airtel-exec-saleem-mobhani-coo/ | title=Oxigen Wallet names former Airtel exec Saleem Mobhani COO | date=13 April 2016 | access-date=25 June 2016}}
The services included money transfer, mobile & DTHTV payments, utility bill payments, gift cards, travel, movie ticket booking and Virtual Visa.{{cite news | url=http://www.business-standard.com/article/pti-stories/oxigen-wallet-rajasthan-roadways-pact-for-easy-ticket-booking-116041300481_1.html | title=Oxigen Wallet, Rajasthan roadways pact for easy ticket booking | publisher=Business Standard | date=13 April 2016 | access-date=25 June 2016}} 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.{{cite web | url=http://www.bestmediainfo.com/2016/06/online-wallets-creating-a-category/ | title=Online wallets: Creating a category | date=16 June 2016 | access-date=25 June 2016}}
Oxigen enables payments in different systems with various brand tie-ups and is available on the iOS App Store and Google Play Store.
Sponsorship
= Venture program =
Aarambh Ventures is Oxigen's accelerator programme which aims to increase startups' growth and innovation. Kalaage was the first startup at Aarambh Ventures and it recently got funded.{{Cite web|url=https://inc42.com/flash-feed/kalaage-funding-rain/|title = Writers' Social Networking Platform Kalaage Raises Funding from Rajasthan Angel Innovators Network|date = 29 September 2016}}
= Sports =
The firm appointed cricketer Sachin Tendulkar as its brand ambassador. Oxigen sponsors the Twenty20 squads of South Africa national cricket team{{cite news | url=http://articles.economictimes.indiatimes.com/2015-06-29/news/63937587_1_yepme-icc-cricket-world-cup-south-african-cricket-team | archive-url=https://web.archive.org/web/20151004022645/http://articles.economictimes.indiatimes.com/2015-06-29/news/63937587_1_yepme-icc-cricket-world-cup-south-african-cricket-team | url-status=dead | archive-date=4 October 2015 | title=Payment startup Oxigen to sponsor South Africa's T20 cricket team | publisher=The Economic Times | date=29 June 2015 | access-date=25 June 2016}} and New Zealand national cricket team{{cite news | url=http://www.business-standard.com/article/companies/oxigen-to-sponsor-new-zealand-t20-team-116031001003_1.html | title=Oxigen to sponsor New Zealand T20 team Blackcaps | publisher=Business Standard | date=11 March 2016 | access-date=25 June 2016}} along with Indian Premier League’s Gujarat Lions franchisee.{{cite news | url=http://www.livemint.com/Consumer/nKu62754CTexaoKSOsaDoL/Intex-signs-Oxigen-as-title-sponsor-for-Gujarat-Lions.html | title=Intex signs Oxigen as title sponsor for Gujarat Lions | publisher=Mint | date=30 March 2016 | access-date=25 June 2016}}
Recognition
- Best Prepaid Payment Instrument for 2014 by National Payments Corporation of India Excellence Awards{{cite web | url=http://www.indiannewsandtimes.com/2014/12/15/oxigen-mobile-wallet-awarded-best-prepaid-issuer-national-payments-excellence-awards-2014-npci/ | title=Oxigen Mobile Wallet is awarded the 'Best Prepaid Issuer' at National Payments Excellence Awards 2014 by NPCI - INDIAN NEWS & TIMES : INDIAN NEWS & TIMES | access-date=25 June 2016}}
- Access to Banking & Financial Services – Use of Technology 2015 by Skoch Group{{cite web | url=http://www.skoch.in/158/skoch-financial-inclusion-&-deepening-award-2015--awardee-list.html | title=Skoch Financial Inclusion & Deepening Award 2015 - Awardee List | access-date=25 June 2016}}
- Money Transfer Programme Award 2015 by Internet and Mobile Association of India{{cite web | url=http://www.bestmediainfo.com/2015/01/iamai-announces-winners-of-5th-india-digital-awards/ | title=IAMAI announces winners of 5th India Digital Awards | date=16 January 2015 | access-date=25 June 2016}}
References
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{{Payment service providers}}
Category:Financial services companies established in 2004
Category:Companies based in Gurgaon
Category:Payment service providers
Category:Online companies of India
Category:Indian companies established in 2004
Category:Mobile payments in India