Oxigen Services Launch new Rupay Prepaid card in India

Oxigen Services Launch new Rupay Prepaid card in India

Oxigen Services, a payment solutions firm, has partnered with Rupay and RBL Bank to launch a new debit card that is linked with a new expense management solution.

The new solution features On-the-Fly EKYC to offer immediate activation of the card.

Intended for small and medium-sized enterprises (SMEs) and large corporates, the card is expected to provide various services, benefits, rewards, incentives and salary disbursement without the need for opening a bank account.

The debit card can be used at any point-of-sale (PoS) terminals across the country, as well as a virtual card on e-commerce sites. It can also be used to withdraw cash from ATMs.

Oxigen’s strategic move comes in the wake of digitising employee benefits and reimbursements, which, as per a recent study, the industry accounts for approximately over Rs. 5000 crores and largely paper-based.

For Employees, benefits comprise of 100 percent PoS Acceptance Nationwide, Works both as a pre-paid Debit Card on PoS and virtual card on E-commerce sites, Multiple Use Mode – Online, Offline and ATM, Cash Withdrawal from ATM. Also, you need not to have a minimum balance. Bundled with deals and offers, Oxigen’s expense management system makes the offering unique.

Oxigen Services which has a vast offline presence of 2,00,000 retail touch points and Oxigen Wallet works in sync offline to online to provide this state of the art Oxigen’s expense management solution. The card is integrated within the Oxigen Wallet application to Manage Card in real time environment offering features like Load Money by individual user using CC/DC/Net Banking in-App, Block Card, Set PIN, View Transaction History, View Balance by Section etc.

Oxigen Services is the first company to offer pre-paid card Issuance to Individuals without a Bank Account at Oxigen’s 2,00,000 retail touch points.

Rewards and Recognition Programs: Many a times company’s rewards and recognition programs are paid out through closed looped cards or gift vouchers which can only be redeemed at few or selected merchants/outlets.

Fleet Payment Management System: Many a times companies have to pay-out huge amounts of cash to their field units. This becomes a major exercise to manage cash and paper work of bills submission and helps in reducing pilferage.

Employee Travel Advances : Currently employees have to use their own debit cards or credit cards while travelling but with this Pre-paid debit card employees can use one single card for all official expenses.

Vendor Payments : Many a times’ company’s marketing, or purchase department have to use their personal cc/dc cards for making online payments for digital marketing spends, online purchases etc.

Salary Pay-out : Employers can disburse the salaries of the employees in the cards even if they don’t have their bank accounts ready. The card can be activated instantly and the disbursal can be done anytime.