The company has tied up with global payment solutions provider ZAZOO as its co-branding partner, and RBL Bank as its sponsor bank.
With Visa Prepaid, customers simply fill in the payable amount in the Oxigen Wallet app and create their prepaid card in seconds, giving flexibility to transact on all e-trade and payment sites that accept Visa.
“There are a lot of people who are unable to transact online because they don’t have a debit or credit card. Through this partnership, we are enabling Oxigen wallet to generate a virtual Visa pre-paid card whenever they want an online transaction” Said, Oxigen Services Chairman and Managing Director Pramod Saxena.
Visa Prepaid utilizes existing and traditional payment methods and enhances them by replacing plastic card data with a virtual card data, hence eliminating the risk of theft, phishing, skimming, spoofing, he added.
Oxigen Wallet allows customers to create multi-use Visa cards on their phone, which is also transferable to friends or family members through the app. Visa Prepaid also empowers individuals who do not have access to a physical card to seamlessly replace the traditional cash-on-delivery payment option for e-commerce transactions with a card they can control based on their preferences.
Oxigen Wallet is India’s first non-bank wallet approved by RBI to be integrated with National Payment Corporation of India. Using this service, users can make instant payment or transactions within a network of 60 banks.
It currently has a customer base of more than 1, 30,000 users who make an average of around 35 million transactions per month. It claims to have a customer base of over 150 million.
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