How do you become an oxygen retailer?

How do you become an oxygen retailer?

We encourage small entrepreneurs and businessmen to join us either as a Retail Outlet (RO), a Retail Management Unit (RMU/Distributor), or a Banking partner for SBI CSP Kiosk Banking/RBL CSP and MicroATM Super Service Agent; if the individual has a good network in the market.

How do I become a money transfer agent?

1) He/she must be a citizen of India 2) He/she must have completed 18 years of age before they apply for the money transfer agent registration. 3) He /She should have valid ID & Address Proof along with shop address proof.

Who is the owner of Oxigen Wallet?

Pramod Saxena
Oxigen Services

Type of site Private
Founder(s) Pramod Saxena
Industry Fintech
Services Recharge, Bill Payment, Money transfer, Ticket Booking, Online/Offline Shopping, Mobile Wallet

What is RBL agent?

These retailers would be permitted to make Electronic Fund Transfer/Money Transfers on behalf of customers enabling them to do remittance to any bank using IFS code and Bank account number. …

Is GST applicable on money transfer business?

Please note Money Transfer Service Charges are inclusive of 18% GST, so you have to enter/configure charges in the platform after adding GST. If retailer collects extra money from the end customer its retailer responsibility to give proper Tax Invoice as per the extra amount collected.

How do I start a POS business?

How To Start POS Business In Nigeria

  1. Step 1: Have An Existing Business. The POS business has to do with finance and must, therefore, be approached carefully.
  2. Step 2: Approach A Bank. Virtually all Nigerian banks allow agent banking services.
  3. Step 3: Get The Equipment.
  4. Step 4: Location.
  5. Step 5: Render Services.

Is Oxigen wallet closed?

Oxigen wallet is a semi-closed wallet as per RBI guidelines. It means that you can use the wallet for making payments on listed merchants and websites but you cannot withdraw the loaded cash under any circumstances.

How do I become a RBL CSP bank?

To subscribe for this service you need to fill the CSP form available with the Sales Representative servicing you. Once the CSP form is received by Bank CSP, agent will be activated within 2 business days subject to approval of the agent from the bank. Download Enrollment Forms Click Here.

How do you get RBL CSP?

Visit website to register as RBL Bank CSP Agent or Distributor by paying as low as Rs. 5000/- for every Agent.

What is the commission for money transfer?

Commission and Earning This means that on any transaction that you would do, you will be paid 1% of it. For example, if you transfer Ts10,000 for your customer, you would get a commission of Rs. 100.

What is the GST rate for money transfer?

Goods and Services Tax (GST)

Amount of currency exchanged Derived Value on which GST will be charged
Up to INR 100,000 1% of gross amount exchanged, subject to minimum amount of INR 250
From INR 100,001 to INR 10,00,000 INR 1000 for Exchange amount of INR 1,00,000 plus 0.5% on remaining amount exchanged

Can I start POS business with 50k?

A minimum balance of N50,000 is adequate to begin the business. The cost of starting is also reduced by the fact that you do not need a fancy shop to host the business. Many of such businesses in Nigeria are simply a table and chair placed in a strategic location or a wooden shed.

Is oxygen bank free to use?

Oxygen Bank is a no fee bank that offers free ATMs, and cash back boosts such as 7% cash back at Trader Joes, Walmart, and Whole Foods. Is my money safe with Oxygen Bank?

How much money can I transfer to my Oxygen account?

There is also a limit on external transfers to the Oxygen account using their app of $200 per calendar day and a maximum of $500 per calendar month. But there is no limit if you initiated the transfer from your other bank account to Oxygen.

Where can I withdraw cash from openoxygen?

Oxygen’s host bank (the bank that holds your cash) is Bancorp, which is also the host bank for several other large Fintech companies like SoFi Money . You can withdrawal cash for free from 40,000 Allpoint ATMs. You can see the free ATMs near you using this map or conveniently on the Oxygen Mobile App.

How long does it take to add funds to oxygen?

It takes up to five business days when you add funds from an external bank account. I tested it with my SoFi and USAA bank accounts, which were linked to Oxygen, and it took 4 business days (or 7 calendar days due to the weekend and a banking holiday). That is really slow!