As per a recent report published in Business Standard the numbers suggest that the cash circulation is aggressively back in action. The money withdrawn from ATM’s stood at Rs. 2,54,781 crore in October 2016 and it is now back to the pre demonetisation level at Rs. 2,26,842 crore at the end of July 2017. Mobile wallet transactions were at Rs. 3306 crore in November 2016 and after soaring to Rs. 8353 crore in January is now back at Rs. 6934 crore in the end of July 2017.
The aforesaid numbers themselves suggest that cash is back in action in a big way post demonetisation. To bring an effective digital payments infrastructure, one needs a 360 degree retail payment eco system at the ground level to achieve maximum digital transactions.
Oxigen developed an in-house Micro ATM called Oxigen Super PoS which doesn’t only limit one to do banking transactions only on the device but also provides last mile banking, digital payments services on one single platform thereby converting physical cash to digital money for micro payments of services and remittances in a ‘real time’ environment.
Oxigen Micro ATM and Oxigen’s network of Retail Outlets, allows Cash loading into the Oxigen Wallet and is the most cost effective and convenient way of going cash to digital. Oxigen currently has over 200,000 retailers or partner stores across India and is India’s largest payment solutions company.
Oxigen Micro ATM was launched in July 2016, is a unique device and the only PoS Terminal, that has Aadhaar integrated to facilitate AEPS (Cash In/Cash Out), Bank Transfers, eKYC using Aadhaar, NFC (Tap Pay), Card Payments (Rupay, Visa, Master Card), Cash @ PoS using Cards to withdraw money just like an ATM, in addition to all Oxigen Services.
Oxigen Micro ATM, Oxigen’s flagship product is listed on Government of E – Marketplace (GEM)
For more queries please send an email superSA@myoxigen.com