Oxigen sees four-fold jump in prepaid Visa card usage

oxygenOxigen, one of India’s oldest wallet payment system, said the load value on Oxigen Wallet prepaid visa cards have increased by 4 times in the last two days.

It said people seem to be switching to prepaid cards to make payments in the wake of demonetization of high-denomination currency notes.

“The daily average number of users have also increased by 167% which is clearly showing a trend that people are adopting new ways to make cashless transactions,” said Sunil Kulkarni, Deputy Managing Director, Oxigen Services India.

Mobile Wallet app Oxigen Wallet which has over 25 Million users, launched Prepaid visa cards in February this year.

It offers a Visa card number, complete with expiry and CVV details, to anyone who downloads the app.

Since the card is linked to the balance on Oxigen’s wallet service, the risk of fraud is limited to the amount of money stored in the card.

The prepaid visa card can be used to pay for all online transactions, but not for offline use.

“This product allows consumers who do not have credit cards or wary of using their debit cards to make cashless transactions online. With these new developments, we foresee a further surge in adoption of Oxigen Wallet and Prepaid visa”, the company said.



Bharti Airtel to launch pan-India Payments Bank tomorrow Bharti Airtel, India's largest telecom company, will take a crucial step towards entering the financial services business as it launches its Payments Bank operation across India tomorrow.Payments Bank refers to a limited operations bank that can be primarily used for making transactions, and not for depositing money.The operator has already start...
PayTM adds support for UPI payments Customers of PayTM, India's largest wallet service can now make payments using the Unified Payments Interface, the government of India's open payments platform.The company has signed up with ICICI Bank be able to receive payments from its customers who are on the UPI platform using its ID 'paytm@icici'.However, customers cannot simply transfer the mo...
After Freecharge, Axis Bank wins virtual POS provider Paynear for its UPI platform Paynear, which helps shopkeepers and businesses to accept card payments without buying a point-of-sale (POS) machine, has tied up with Axis Bank to implement support for UPI or Unified Payment Interface.UPI allows users to send and receive money and make payments using IDs that resemble email addresses (for example, rajesh@icici).Paynear is an Indian...
Three lakh Amul outlets to start accepting MobiKwik payments MobiKwik, Indian mobile wallet major, today announced its tie up with Amul, the Indian dairy cooperative.The association will help customers of Amul in making cashless payments with MobiKwik at 7000 Amul outlets and 3 lac Amul Multi brand outlets & retailers across India."In today's less cash economy , through this pan India initiative we shall b...
PayTM fraud not related to wallet service PayTM, India's largest wallet company, has been cheated to the extent over Rs 6.15 lakh by 48 customers claiming illegal refunds for goods they already received.The fraud does not involve any leakage of money from the wallet service, but is centered around claiming illegal refunds for goods that were ordered, and received via PayTM's online retail websit...
PayTM hit by Rs 6.15 lakh fraud PayTM, India's largest wallet company, has been cheated to the extent over Rs 6.15 lakh by 48 customers claiming illegal refunds for goods they already received.A case has been registered with the Central Bureau of Investigation, which is currently looking into the matter.Besides PayTM, others such as Freecharge and MobiKwik are also present in the f...
BEST bus users can now pay using Freecharge and Ridlr Freecharge, owned by Snapdeal, said users of BEST public transport buses in Mumbai can pay for their tickets using its wallet service.This has been achieved by tying up with Ridlr, the official mobile ticketing app partner of BEST."BEST commuters can now pay for their bus tickets and monthly passes digitally, saving them the hassle of finding ch...
Domino’s Pizza starts cashless facility for phone orders Domino's Pizza has started cashless payment facility for those who order by phone as well."Post demonetization, we have seen many customers choosing to order online. Consumers coming to our restaurants to dine in or carry out are able to pay With Credit caras or Wassets. However, there are many customers who still order with a phone. It is for these cust...
Freecharge ties up with ICICI Bank to offer POS services Snapdeal-owned FreeCharge has tied up with ICICI Bank's Merchant Services, which will allow consumers to pay their bill at over 1 Lakh ICICI stores with their Freecharge accounts.These merchants are located at across 700 cities and towns in India, the company said. "FreeCharge’s partnership with ICICI Merchant Services, powered by First Data, will ea...
Anil Ambani Group sells 2 TV channels, 59 FM stations to Zee Subash Chandra's Zee Group is buying the general entertainment channels and FM radio business of the Anil Ambani group.Because of lock-in provisions, the acquisition of 59 FM radio licenses will be done in two stages.The FM channels are being broadcast under the brand “92.7 BIG FM”, reaching to 45 cities, 1200 towns and over 200 million people.It...
Airtel starts Payments Bank; offers 7.25% interest on savings ac Airtel Payments Bank, a subsidiary of Bharti Airtel Limited, today said that it has rolled out a pilot of its banking services in Rajasthan. The pilot is aimed at testing systems and processes ahead of a full scale pan Indian launch.With this, Airtel Bank has become the first payments bank in the country to go live.Payments banks are similar to regul...
ICICI Bank is the first with UPI app for merchants While nearly all the major banks with the exception of SBI and HDFC have come up with UPI apps for regular users, ICICI Bank has gone a step further by bringing out an app specially dedicated to merchants.The app requires a current account with ICICI Bank to operate, and any small merchant or shopkeeper can use it as a payment option to deal with the ong...
Card payments slow as people start swiping more after Demonetization Swiping a debit or credit card at the local grocery store or supermarket is supposed to be the best way to beat the demonetization blues, but going by social media feedback, these networks are getting overloaded as well.In fact, our own staff have found that they have had to swipe their cards 3 or 4 times for the transaction to go through. Sometimes, it ...
SBI starts accepting UPI payments State Bank of India, India's largest bank, has started accepting UPI payments from customers of other banks.However, outgoing payments are yet to be enabled from an SBI account to other accounts.UPI refers to a new way of making instant payments.Instead of entering details such as bank account number and IFSC code, Unified Payments Interface ...
Razorpay introduces e-cash on delivery using UPI Razorpay, a payment processing company, announced eCOD, a new service that lets customers pay for deliveries after the delivery is actually made.Unlike other recent offerings like Wallet on Delivery etc, Razorpay has built in support for UPI -- which means that you can pay directly from your bank account without using any wallet.UPI, unlike other wal...