Friday, September 14, 2012:
India has about 100,000 bank ATMs and only a small percentage of the 640,000 villages in India have access to banking services. The broadband service roll out to these villages is very slow, however, GPRS connectivity is very good.
Oxigen realized the vacuum of ATM facilities & decided to devise a unique solution that would help bridge the gap, and, overcome the cash withdrawal and deposit issues, in Rural India.
Oxigen tied up with Telepower, China, to design and develop a GPRS Point of Sale business terminal, with its own proprietary software, that now will enable even the smallest of small mom and pop shops/Kirana stores, to become a customer touch point for ATM like banking services.
Today Oxigen, with its associate, Telepower, is proud to launch India's first Mini ATM named OxiShaan.
The OxiShaan Mini ATM PoS Terminal is especially designed for rural deployment, has the functionality of a Phone, GPRS connectivity, Printer and Battery back-up to combat power failures. It is enabled with a plethora of Utility, Merchant Payments and Mini-ATM services;all rolled into one single business device. Oxigen plans to add over 2,50,000 PoS enabled mini-ATM's in the next 3 years, which will be a Game Changer in the electronic payment space and will bring banking and electronic payments at the doorstep of even the remotest village.
OxiShaan is also developed in an aligned manner, to enable the Government's payments disbursement plans like NREGA, Pensions, Subsidies, etc. which are to be disbursed only through bank Accounts. As a Business Correspondent to State Bank of India, Oxigen has already proven its capability to deliver Govt. payments, by opening over 100,000 pension accounts, in remote village locations in the State of Tamil Nadu. This has resulted in immense benefit and convenience to the old age pensioners for Pensions delivery via EBT (Electronic Benefit Transfers).
On this Occasion, Mr. Pramod Saxena, Chairman Oxigen, said that the 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 like Mobile recharges, DTH Recharges, Merchant Payments, at one single point . "OxiShaan" terminal is specially designed to offer all these services. Very soon a large number of Oxigen's 1,00,000 retail touch points, that continue to grow by the day, will provide ATM and Government payment services to India's underserved poor.
Mr He Zhiming, CEO, Telepower, China, commented, "We are proud to associate with Oxigen, India's premium payment solution provider, to produce a POS Business device. We have worked with Oxigen over the past one year, and our joint efforts will bear fruit now. As Telepower's mission is to integrate intelligence to make communication smooth, we know that OxiShaan, will be a great success. We wish Oxigen achieves it goal of providing rural India, all their services, at a single one stop shop, with a smart connectivity device like OxiShaan".
OXISHAAN is a portable Mini ATM with a phone and GPRS connectivity.
The special features of this ATM are;
-- Process Oxigen services business transactions like Mobile & DTH recharge Bill payments etc.
-- Battery backup, so that ATM is functional even in power cuts
-- Process ATM services like Cash Out , even from Banked Wallets & IMPS and Cash In through IMPS
-- Capability to send & receive SMS based transactions, even when GPRS is not working for any reason.
-- Can make Merchant payment through IMPS