India’s First Social Mobile Wallet App, Oxigen Wallet Goes Social With #SocialMoney

Oxigen Services launches a social mobile wallet 'Oxigen Wallet' that can be used to share money with friends and family through social networks like Facebook, Twitter, Google Plus, and messaging apps like WhatsApp

Oxigen_wallet

If one thing is changing rapidly in the world today, it is the way we make payments. Moving beyond cash and cards, and on to mobile payments, we now have a mobile payment service that also enables making payments to your connections over social networks and messaging apps.

Gurgaon-based Oxigen Services has launched a mobile wallet called Oxigen Wallet. The distinguishing feature of this mobile payment tool is that it can be used to share money with friends and family through social networks like Facebook, Twitter, Google Plus, through messaging apps like WhatsApp as well as across various operators.

You can also use the wallet to recharge your phone, pay bills and shop across a number of online merchants that have partnered with Oxigen. Along with money, users can also send photos, videos and audio and text messages to personalise the transfer.

Oxigen has tied up with leading banks and is also operational across common service centres (CSC) set up by the Government of India. As per Business World, while the backend is provided by Oxigen, the linkage to social networking sites has been developed by Singapore based Fastacash. One can send an sms to register for Oxigen or download the mobile app available for both android and iOS and get started.

You can see more of how the Oxigen wallet works at the site link.

Pramod Saxena, Chairman and MD at Oxigen informed PTI that the company processes nearly half a billion transactions annually and has already acquired 1.5 million mobile wallet accounts, clocking close to 1 million transactions a month.

Factoring in this new social media connection, the company aims to target the social savvy youth who spend most of their online time on social networks. For the promotions, Oxigen has been running a promoted trend on Twitter today called #SocialMoney.

#SocialMoney is a creative quiz-based contest where people on Twitter can answer questions and stand the chance to win cash on their wallets. 5 winners get Rs. 1000 loaded on their Oxigen wallets.

It also supported a live digital concert called #StrokeofMidnight that included the likes of Farhan Akhtar and others. #StrokeogMidnight involved a Twitter concert too, with prizes in the form of loaded Oxigen wallets.

Engaging with the youth

Youngsters are most likely to adapt to newer ways of making payments and if that involves social networking sites and messaging apps, the shift becomes all the more convenient. Oxigen wallet is going all out on social with its promoted trend based contest and other online associations to connect and engage with the youth. With the country poised to have the largest youth demographic with increasing users on Facebook and WhatsApp, and to add to it being the fastest growing smartphone market too, most transactions will be mobile and social driven.

The last time we heard about social money transfers was ‘Pockets by ICICI Bank’ that assures a safe, simple and social way of banking, while you are Facebook-ing. It also offers features like recharging your prepaid mobile phone or booking movie tickets for your whole gang. All you have to do is register on the Facebook app with your debit card number and PIN.

In comparison, Oxigen has everything covered in one app. It makes good business sense for Oxigen to enable money transfer through social media, and offer prizes of wallet money in their contests.