Oxigen made a foray into the much needed Financial Inclusion sector with India’s largest bank, State Bank of India in 2011. Through this partnership Oxigen delivers mainstream financial services to the bank-excluded masses of India using remote- biometric enabled Technology for Kiosk Banking.
State Bank Of India Kiosk Banking :
Oxigen Retailers are being appointed as Business Correspondents to State Bank of India for carrying out banking transactions on behalf of SBI. This technology is powered by Oxigen. It is an Internet enabled PC based technology and extremely easy to use. Therefore anyone can become a Business Correspondents (BC) and open customer accounts at Customer Service Point Kiosk outlet (CSP).
SBI Kiosk transactions are bio-metrically secured. Printed acknowledgment for each transaction is issued to the customer and has end-to-end process of account opening & online transactions. Micro savings and Micro remittances are done through No Frills Savings Bank Accounts at Oxigen CSP Kiosks.
Oxigen Retailers can now be appointed as Customer Service Points for Business Correspondents to State Bank of India and carry out banking transactions on behalf of SBI. Become a CSP/ Business Correspondent for State Bank of India Kiosk Banking and boost-up your earnings. This is a business opportunity to do State Bank of India Kiosk banking in your Retail Outlet. YOU, therefore, become a Mini-Branch of State Bank of India, the country’s largest Bank. This technology is powered by Oxigen .
Banking+
Make your shop Mini bank & provide basic SBI banking services to your customers!!!
SBI Kiosk Banking BC model aims to provide a real time, user friendly banking services to the consumer in their neighborhood. Pay Point India has been a National ‘Business Correspondent’ for the State Bank of India since 2011. As per this arrangement Pay Point India is authorized to provide Kiosk banking service to its present retail network and create new Kiosk Banking agents across the country.
About SBI Kiosk Banking
A large number of people, particularly the migrant laborers and factory workers do not have a saving account and even not able to open an account due to lack of valid address and ID proof. As a result they face difficulties to save their earnings in a safe place and look out for solution to send money to their families. Through the Kiosk banking solution the following services can be offered:
Tatkal Money Transfer to any SBI Bank account
IMPS Transaction/ Balance enquiry
Deposit / Withdrawal of Cash
Fixed deposit/E-KYC enrolment
Aadhar Enabled Payment System(AEPS facility)
Rupay ATM card/SBI Identity card
Loan deposit/Recurring deposit
Social Security Schemes(PMJJY, PMSBY & APY)
Association with State Bank of India
SBI software, user id and password
Biometric Reader & Software for electronic thumb impression
Web Software to operate different service (Recharge/Billing/Travel Solution)
Authorization Certificate of CSP
Web + SBI Banners
Logo/Stickers/Leaflets/Contact Matrix
Commission Structure
Introduction letter of CSP
Benefits to Retailer through Pay Point India:
An easy to use application
Hassle free and simple system
New Revenue opportunity
Increase your goodwill & brand name in market
Banking Business increases customer footfall which is beneficial for existing Business
What does the retailer need?
PC
Internet Connectivity
Printer
Office or Retail Outlet
SBI Application – Activation Process
Application Form and Registration fees received by Pay Point team
Due diligence by PPINL compliance Team
Application file to SBI local branch
SBI CSP code received
BC entry and Terminal mapping by SBI officials
Welcome kit and scanner dispatched
Training after kit received
Entire process usually takes 25-30 days
What documents are required?
Application form
2 passport size photo’s
PAN Card (Mandatory)
Id Proof (Voter id/Driving License/Passport etc.)
Shop Address proof
Resident address Proof (electricity bill, ration card etc.)
Please note: Activation of SBI service is subject to approval from SBI
Complimentary services
Utility bill payment
DTH & Mobile Recharge
Air ticket Booking
Bus Ticket Booking