Oxigen Services India, a payments solutions provider, has launched a Mini ATM device that also acts as a mobile point of sale (PoS) terminal, OxiShaan.According to the company, the device will allow people in rural areas to withdraw money from their bank accounts without visiting the bank or an ATM. For the same, Oxigen has tied up with Telepower, China, to design and develop a GPRS Point of Sale business terminal, along with its own proprietary software. Oxigen expects that the device, OxiShaan, will enable small mom and pop shops (Kirana stores) to become a customer touch point for ATM-like banking services. OxiShaan has the functionality of a phone, GPRS connectivity, printer and battery back-up to overcome power failures, and the capability to send & receive SMS based transactions even when GPRS is not working, and support for banked wallets & IMPS and cash-in through IMPS. How it works: To use the service customers will have to open a full service eWallet from State Bank of India called MobiCash. Note that Oxigen is a Business Correspondent to SBI. MobiCash will offer services such as cash-in/out, peer to peer, wallet to any Bank, and Merchant payments. Consumers can transfer money from any bank to State Bank of India MobiCash account and withdraw money from the MobiCash account. When one needs to withdraw money, they can go to a retailer with OxiShaan service and withdraw cash and receive a receipt. In addition to that the service will also enable the Government’s payments disbursement plans like NREGA, Pensions,…
