With unique offerings in the Indian VAS sphere

IIPM Programme :- SUPERIOR COURSE CONTENTS

With unique offerings in the Indian VAS sphere, Oxigen plans to make the most of the maturing Indian telecom market. 4Ps B&M’s pawan chabra presents an insight on this emerging player in the Indian VAS industry...

Consider a situation where your mobile phone replaces your wallet. And, what more can you ask for than to get relieved from the long standing queues at various bill payment counters! What if it’s done just by clicking a few buttons on your mobile phone? Sounds like a dream?! But no more as that’s exactly what Oxigen Services (India) Pvt. Ltd. plans to do with its newly launched product called ‘OxiCash’.

Working on the lines of PayPal, (a US based subsidiary of eBay) OxiCash is one of its kind offering in the Indian value added services (VAS) sphere by Oxigen. “PayPal is very popular in the US and is recharged only through credit or debit card. But the worst part is still almost 20-25% population of United States doesn’t hold a bank account, so, talking about the potential of a product like this in India, it has enormous potential to grow,” avers Pramod Saxena, Founder and Chairman Oxigen Services (India) Pvt. Ltd. Certainly true and if banked upon rightly, OxiCash happens to be a billion dollar opportunity for Oxigen that started its operations just four years back in 2004.

Well, the idea of starting the company emerged out of a vision of Pramod Saxena, who in association with South African Blue Label Telecom, made all possible arrangements to take on the Indian telecom VAS sphere by storm. And with the kind of performance the company has shown in the last four years, its existence has surely emerged as a threat to many. In fact, Oxigen’s growing popularity has even forced the global software giant, Microsoft to acquire a whopping 35% stake in the company in January earlier this year.

The alliance with Microsoft will not only make Oxigen stronger on the financial grounds, but will also enable the company to expand its business rapidly in the virtual payments and distribution space by making use of Microsoft’s web and mobile based technologies. Another major advantage that the company has gained through its association with Microsoft is that Oxigen can now also access Microsoft’s advertising services. However, other than Microsoft, Blue Label Telecom holds 35% stake in the company while the remaining 30% is held by Saxena and other employees of the company.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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