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BLUE LABEL INTEGRATED ANNUAL REPORT 2015
By July 2015, Oxigen reached milestones in having
registered 5 million transacting mobile wallets. It
continues with its shift in strategy to focus on
money transfer services with the value of deposits
averaging USD3.3 million per day.
While Oxigen has not been successful in being
allocated a banking licence as yet, current
operations will generate an element of “cashing-
out” and debit card transaction fees through its
strategic alliance with RBL Bank.
Blue Label’s share of profit for the year equated to
R2.6 million (2014: R3.3 million loss).
29
5
44
21
1
Airtime recharge and DTH (TV)
Bill payment
Travel and others
Business correspondent banking
Online money transfers, including Oxigen wallet
Product mix by % revenue
Oxigen Services India
As Oxigen reaches out to India’s unbanked and
underbanked population in bringing them into the
financial services’ mainstream, it is evolving into a
two-part business of product distribution and
financial services.
The business continues to expand a valuable
distribution network inclusive of “cash in” and
“cash out” capabilities. Oxigen now underpins
approximately 50 million real-time transactions per
month by reaching several million customers across
its 200 000 strong merchant base, principally
through kiosk, POS and e-wallet banking.
Growth is supported by its increasing number of
strategic partnerships with banks. Oxigen now
provides direct connectivity to over 100 major banks
on the national switch of the NPCI, including the
State Bank of India and Ratnaker Bank Limited for
business correspondent or kiosk banking. A further
growth driver is the rapid adoption of mobile wallets
in the country. Over 150 million customers have
access to Oxigen’s products and services.
OPERATIONAL OVERVIEW
CONTINUED