ZAZOO increases its global footprint through partnership with India’s Oxigen
ZAZOO’s MVC technology powers Visa Prepaid offering with Oxigen Wallet in India
ZAZOO, a business unit of Net 1 UEPS Technologies Inc. (Nasdaq: UEPS; JSE: NT1) has partnered with Oxigen Services India Pvt. Ltd (“Oxigen”) to seamlessly integrate its Mobile Virtual Card (“MVC”) technology, powering Visa Prepaid into Oxigen Wallet in association with RBL Bank as sponsor bank and co-branding partner.
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 a leader in promoting financial inclusion for the masses of India, and our technology will enable them to penetrate the market further by providing interoperability to their current semi-closed loop wallet,” says Philip Belamant, Managing Director of ZAZOO. “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,” he continues.
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.
“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/onmobile, through the Oxigen Wallet mobile app.” says Ankur Saxena, Director & Chief Mentor of Oxigen Wallet.
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.
“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.
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, with whom ZAZOO has a strong and growing relationship.
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,” concluded Belamant.
More about MVC Technology:
- ZAZOO’s VCpay wins at the 2015 Appsafrica innovation awards
- Bitx selects ZAZOO to offer interoperable spend via Mobile Virtual Card technology
- ZAZOO expands Virtual Card reach in partnership with UK’s Funifi