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Friday, September 14, 2012

Oxigen launches mini ATM cum point of sale device

Payments solutions provider Oxigen launched a mini ATM cum point of sale device that will enable the people living in rural areas to withdraw money from their account without visiting the bank or locate an ATM.

For this Oxigen has tied-up with Chinese firm Telepower, that will design and develop a GPRS enabled point of sale (PoS) business terminal named OxiShaan.

This terminal will enable the small kirana (or mom and pop shops) to function like touch point for ATM like banking services.

"...Masses of India will not only have benefits of ATM like banking services such as cash-in, cash-out, but will also have the advantage of paying for utility services...OxiShaan termial is specially designed to offer all these services," Oxigen Chairman and Managing Director Pramod Saxena told reporters after the launch of the device here.

The customers will have to open a State Bank of India MobiCash account to avail to this facility, he said.

When in need of cash, the customer instead of going to the bank or the ATM can go to the retailer and get a receipt in lieu of the cash withdrawn.

"It is an ATM terminal for villages. Money can be transferred from any bank to State Bank of India MobiCash account. The consumer can withdraw money from his MobiCash account," Saxena said.

Oxigen has tied up with SBI, Yes Bank, ICICI Bank as well as National Payments Corporation of India (NPCI), which connects 60 banks, to facilitate transfer of money from any account to a person living in rural area.

Oxigen currently provides services like mobile recharge, bill payments, ticketing and pre-paid value added services etc.

Source: Financial Express


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