Delhi Based Microsoft (NSDQ: MSFT) funded Oxigen Services has launched OxiCash, a pre-paid wallet accessible through mobile and PC. The wallet allows a user to pay telephone bills, book tickets and buy content including mobile videos, music and games. Interestingly, the OxiCash id also works as a Windows Live id.
How does this work? The wallet needs to be topped up with cash at an Oxicash outlet (they claim 45,000 outlets although no mention if these are only city-centric. The website however doesn’t list even a single outlet). Alternatively, you can make an online transfer through the portal. Inorder to make a payment, subscribers must message the amount and the merchant id to a long code (9870888888) in a pre-defined format. Although one can make purchases through multiple touch points, transactions will be limited based on the merchant list. OxiCash also faces the problem of making sure integration is constant across all merchants. For example, it lists RedBus as a merchant on the website, RedBus on the other hand doesn’t feature Oxicash in its mobile payment options, although it has mChek and Paymate. Additionally, the requirement for having a user remember a merchant id as well as a pre-defined format might hamper uptake. Although OxiCash might garner registrations with its recently launched commercial, converting them into actual users, increasing transaction volume and ensuring merchants remain integrated will be key.
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