ZAZOO has partnered with Oxigen Services India to seamlessly integrate its mobile virtual card (MVC) technology to power Visa Prepaid into Oxigen Wallet in association with RBL Bank.
Since its launch in January 2015, ZAZOO's patented MVC technology has already enabled mobile payment solutions for the likes of Uber South Africa, Microsoft, Funifi in the UK and BitX.
Oxigen is one of India's largest and most established payment solutions providers and is regarded as an industry leader in recharges, money transfers, bill payments, social media and various other payments. The company provides an easy to use, turnkey solution for its customers and is at the forefront of India's drive to migrate to electronic transactions.
"For the first time ever, Oxigen users will be able to transact anywhere Visa is accepted. These spending locations include social networks and merchants like Amazon, FlipKart, Snapdeal and Zomato. We are thrilled to partner with Oxigen as we continue to grow our global footprint and we are confident that the power of our technology will assist in increasing Oxigen's user adoption in India."
Extending financial inclusion
"Introducing the Oxigen Wallet to India is in line with our strategy of extending financial inclusion," says Ankur Saxena, director and chief mentor of Oxigen Wallet. "The collaboration between Oxigen, ZAZOO and Visa has made it possible for us to give potentially one billion mobile customers in India access to instant electronic payments online/on mobile, through the Oxigen Wallet mobile app."
The Oxigen Wallet will use ZAZOO's MVC technology to power the Visa Prepaid card securely and off-line for card-not-present transactions, such as e-commerce or m-commerce purchases. The MVC technology runs as an application on any mobile phone, transforming it into a cashless, secure and convenient electronic payment device that eliminates the risks of theft, phishing, skimming, spoofing and other fraudulent activities.
"This is for the first time ever in India that a mobile wallet user, banked or unbanked, will be able to make transactions on all e-commerce/payment sites where Visa is accepted. Our association with ZAZOO and Visa helps us attain another milestone as India's leading digital payments solution provider by giving our customers another secure means of making payments," adds Pramod Saxena, chairman and managing director of Oxigen Services India.
Reaffirming their vision.
TR Ramachandran, group country manager for India and South Asia at Visa, said the Visa Prepaid offering reaffirms their vision to be the best way to pay and be paid, for everyone, everywhere. "Visa is committed to delivering benefits of digital payments to newer segments of customers and this is a great example where Oxigen Wallet customers will now have access to the extensive network of e-commerce merchants who accept Visa."
Oxigen Wallet customers will be able to use the application to make any purchases or bill payments at online merchants, or send virtual gift cards to friends and family. To launch MVC with Oxigen, ZAZOO has also partnered with TranServ Private Limited.