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Oxigen Launches Mini ATM & Mobile PoS Device OxiShaan

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, Subsidies, etc. which are to be disbursed only through bank Accounts.

Apart from acting as an ATM device, OxiShaan also works as a point of sale device and can be used for paying for utility services like Mobile recharges, DTH Recharges, and Merchant Payments. The company claims that it plans to add over 2,50,000 PoS enabled mini-ATM’s in the next 3 years. Oxigen informed MediaNama that for a retail tie up, they will charge Rs.5000  as a service fee for a period of six month. 

Oxigen Services India was started in 2004 offering payment services such as mobile recharge, booking airline/rail/bus/movie tickets, games, donations, etc. through its platform.

The company recently tied up with Nokia India  to allow users to renew their Nokia music subscription. Apart from that, Oxigen also provides merchant payments to telecom operator, bank wallets and online Banking portals like Airtel Money, ICICI Quick Shopping, SBI, HDFC, AXIS Bank, Corporation Bank, Amex, among others. The company recently acquired a 51% stake in United Villages Network Pvt Ltd, a distributor of goods that uses mobile technology, operating in rural markets.

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Other Players:

Although OxiShaan’s main attraction remains a mini ATM service, it also provides a mobile point of sale solution, which currently seems to attract attention from many firms. Axis Bank, an Indian private sector bank, partnered with Prizm Payments and Mswipe Technologies, to launch Swipeon – a mobile phone based card acceptance service or mobile POS terminal. CDMA based mobile operator, MTS, had also launched MTS mPOS, its own mobile point of sale device that can be attached to MTS mobiles for mobile transactions.

Earlier, PayMate, the mobile payments company,had launched a PayPOS mobile application, which also enabled credit and debit cards payments and electronic transactions on mobile phones at the point of sale (POS). However, unlike MTS’ mPOS service, PayMate is an application based payment service and is available on all Android/iOS devices. Ezetap also launched a mobile PoS (Point of sale) solution that allows feature phones, smartphones and tablets to be converted into Point of Sale terminals, by adding a compact accessory, the Ezetap Card-Reader.

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