wordpress blog stats
Connect with us

Hi, what are you looking for?

Oxigen enables money transfer via social networks with Fastacash tie-up

OxigenPayment solutions provider Oxigen Services India launched a social mobile wallet service today called Oxigen Wallet, by partnering with Fastacash. Oxigen has 1.5 million mobile wallets and claims to clock 1 million transactions per month. The service can be accessed via its Android app, iOS app or webpage.

It’s not very clear how exactly the social payment service works: There is no information on Oxigen Wallet’s website, but a press release says that payments can now be made over social networking and messaging platforms like WhatsApp, Facebook, Google+ and Twitter, without needing the receivers bank account details. We haven’t been able to find any information on it, but Fastacash has a video on how its payment solution works, here.

How the Oxigen app works

A user can sign up for the service either through its website or directly via its Android or iOS app. The user’s mobile number is used to verify and tie-up with the account. The signup is simple enough but oddly, the service only allows for the use of a 6 digit numerical password. On login options to transfer money, recharge and pay bills are prominently displayed.

The transfer money tab opens a page where the user can enter the amount to be transferred and the method via which the money is transferred. Transfer options include via the beneficiary mobile number, bank and account number or via the bank MMID method. Optionally, pre-existing contacts can be selected from a drop down list to transfer the money to. The transfer money tab also lists an option to load money into one’s account via IMPS or credit/debit cards.

The recharge tab opens a user page with options to recharge any mobile phone of 14 mobile operators including Airtel, BSNL, Docomo, Reliance CDMA and GSM, Idea and MTS among others. It also allows the user to recharge the phone of an existing contact. Similarly, prepaid cards for DTH operators including Airtel TV, Sun TV, Big TV, TataSky and VideoconD2H along with data cards from MTS Blaze, Reliance Netconnect and Tata Photon can be purchased via this tab.

Advertisement. Scroll to continue reading.

The pay bills options is similar to the recharge option, letting a user pay postpaid mobile, landline, data card and electricity bills for self or for an existing contact. The company claims to have a tie up with more than 2000 websites where Oxigen wallet can be used to make payments, including BookMyShow, Dominos, IRCTC, eBay etc. Both the app and the desktop version offer the same services, although the Android app is far more polished.

We couldn’t find any info related to social sharing.

Oxigen Timeline:

-Oxigen started offering its services in India in 2004 with payment solutions for mobile recharges, booking air/rail/bus/movie tickets, donations etc. on its platform.

-The company had partnered with World Dating PArtners, to launch a new matrimonial and dating website MyCupid.in back in 2010.

The company had also entered into a partnership with Nokia in 2012 to allow users to renew their Nokia music subscription via Oxigen.

Advertisement. Scroll to continue reading.

-In August 2012 the company acquired 51% stake in United Villages Network Pvt Ltd, a distributor of goods that use mobile technology in rural markets.

-The same year the company announced Mini ATM devices that act as mobile point of sale terminals called OxiShaan. The devices was intended to allow people in rural areas to withdraw money without visiting an ATM.


– PayU India claims to have more than 8500+ websites that accept payment with PayUMoney, but it doesn’t appear to have a semi closed payments wallet license in Reserve Bank of India’s recent update on semi-closed prepaid wallets.

– UTI Infrastructure Technology and Services Ltd, a Government of India company had received a license from the Reserve Bank of India in March this year, allowing it to set up a prepaid payment wallet service.

– Mobile recharging company Mobikwik had integrated its mobile wallet into e-commerce websites such as Nykaa and eBay in June.

Advertisement. Scroll to continue reading.

– Mobile financial and VAS company Mahindra Comviva had launched a digital wallet solution called the mobiquity Wallet this year in March.

– C-SAM, a mobile wallets and payment solutions company was acquired by MasterCard to help speed up the launch of its MasterPass wallet service.

Paytm had launched a Semi Closed wallet back in January, six months after having received a semi closed prepaid wallet license.

RBI had released draft guidelines for allowing digital payment platform to set up payment banks in July this year. The bank outlined various points such as the minimum paid up capital requirements, rollout obligations, limits to foreign shareholding and implementation of customer grievance cell among other things in the draft. Full coverage of the RBI guidelines can be found here.

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...


Releasing the policy is akin to putting the proverbial 'cart before the horse'.


The industry's growth is being weighed down by taxation and legal uncertainty.


Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.


Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ