WildBlueSkies – Trends and strategies in Digital Media

In a system similar to that prevalent in Mexico, Indian electronic payment enabler companies like Oxigen, Obopay, Atom, Indipay, Easy Bill and Suvidha have tied up with mom-and-pop (read kirana) stores to facilitate cashless payments (electronic wallet) for a host of services. The electronic wallet allows transactions for recharging of prepaid mobiles, telephone bills, electricity and water bills, DTH recharges, travel services and other utility/insurance bill payments through mobile phones.
The bulk of the kirana usage comes from the consumers with saving accounts, but no credit cards. The wallet allows them to do cashless shopping and make payments at a lower charge (Banks charge 2.25 per cent of transaction value, while these payment enablers charge only Rs 2-3 per payment and on some verticals a maximum of Rs 8-10).
Pramod Saxena, Chairman and MD, Oxigen Services India – which currently has 50,000 touch points through kiranas across the country — is planning to expand its retail network to 250,000 stores by 2010. It is adding 1,500-2,000 touch points every month. [Via]

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