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Oxigen wallet

Payment solutions provider Oxigen Services has partnered with Creditnation.in to facilitate the procurement of loans through the Oxigen Wallet. As an introductory offer, the companies are providing a cashback of up to Rs 5000 on successful loan disbursals.

Creditnation’s loan option is available in the ‘Shop’ category of Oxigen’s app. Tapping on it lets the user read the terms and conditions, post which users are led to what essentially looks like Credination’s mobile website inside a frame. Here users can apply for home loans, personal loans etc.,  from various banks. Applying from here, will let users avail the cashback.

Other than Creditnation, Oxigen Wallet also lists Justdial, BookMyShow, Cilory, Clear car rental and DishTV among others in its online store. Interestingly, it also lists an offline merchants category, that is not yet populated for our area (Pune).

Big Bazaar partnership: Earlier this month, Big Bazaar Direct, the ecommerce arm of retail provider big Bazaar, tied up with Oxigen to let its retailers sell goods from Big Bazaar Direct through Oxigen’s platform at physical stores. Oxigen claims to have 200,000 retailers on its platform and 150 million customers transacting for mobile/DTH recharges, utility payments and money transfer among others, on the website in real time.

Oxigen hived the wallet business into Phi Enterprises:

Oxigen claims to have processed over 2 billion transactions to date, and has a current transaction volume rate of 600 million per year. The company claims to have 13 million registered wallet users. In November 2015, Oxigen Services said that it would be hiving off its online businesses, which includes its digital wallet, into a separate entity known as Phi Enterprises. At that time, Oxigen’s deputy managing director Sunil Kulkarni told MediaNama that the company had planned to de-merge the online business as part of its payments bank licence application.

Also read: “It’s baffling why RBI excluded PPIs from payments bank licenses” – Oxigen’s Pramod Saxena