Oxigen Services, a payment solutions firm, has partnered with Rupay and RBL Bank to launch a new debit card that is linked with a new expense management solution. The new solution features On-the-Fly EKYC to offer immediate activation of the card. Intended for small and medium-sized enterprises (SMEs) and large corporates, the card is expected to provide various services, benefits, rewards, incentives and salary disbursement without the need for opening a bank account. The debit card can be used at any point-of-sale (PoS) terminals across the country, as well as a virtual card on e-commerce sites. It can also be used to withdraw cash from ATMs. Oxigen’s strategic move comes in the wake of digitising employee benefits and reimbursements, which, as per a recent study, the industry accounts for approximately over Rs. 5000 crores and largely paper-based. For Employees, benefits comprise of 100 percent PoS Acceptance Nationwide, Works both as a pre-paid Debit Card on PoS and virtual card on E-commerce sites, Multiple Use Mode – Online, Offline and ATM, Cash Withdrawal from ATM. Also, you need not to have a minimum balance. Bundled with deals and offers, Oxigen’s expense management system makes the offering unique.
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