Oxigen, which is a payment solutions provider, unveiled its mobile wallet service called the Oxigen Wallet two days back. Through this mobile wallet service, the users will be able to buy gifts, transfer money to their family and friends using the social networking platforms like Facebook, Twitter etc..
Besides providing all these facilities, the users will also be able to pay bills, recharge their mobile phones, and shop online using their Oxigen wallet.
Pramod Saxena, who is Chairman and Managing Director at Oxigen, gave a statement to PTI on this occasion and said “Ours is the country’s first social mobile service through which people can share money with their friends and family over their preferred social networks and messaging platforms like Facebook, WhatsApp, Google+, and Twitter ”.
According to him, the mobile wallet service will find a huge user base in the youth of the country who regularly go out for meals with their friends, split the amount of the bills and send small but frequent gifts to each other. The youth can also use the service to get their Smartphones recharged, and payment for service like buying a pizza, booking travel or movie tickets, download music or movies etc.
The mobile wallet service is driven by a mobile application, which can be downloaded from the Google Play Store and Apple store. Anyone with a mobile handset can download the app and use it as the service is telecom operator and bank agnostic.
Cash needs to be loaded into the mobile wallet, once the user has downloaded the app. Cash can be loaded into the wallet through a credit card, debit card or by going to selected corporate outlets such as “The Mobile Store.”
RBI has capped the amount of money that can be transferred through such services at five thousand rupees per transaction.
The users can also send videos, audio, text messages and photos along with their money in order to personalize the money transfer.
The company has already processed over two billion payment transactions, through banking websites, small retail and modern retail chains.
The company has partnered with a Singapore headquartered Company called Fastacash to provide this service. Fastacash is a global platform which allows its users to transfer airtime, money and other token of values through social networking sites.