Oxigen has broken all previous records in load money and transaction count in the past 1 week after the demonetization issue. Wallet to bank transfer is showing a dip on 12%, clearly indicating that consumers are using the wallet more for transactions rather than bank transfer. The daily run rate of installs of Oxigen Wallet have increased by 4 times, while the daily registrations have increased by 120 times. The overall increase in daily transaction value is up by 30%. Additionally, Recharges have increased by 25%.
On new found trend, money transfer accounts for 40% of the transactions on the wallet followed by recharges. Average ticket size on money transfers is upwards of Rs 1500, recharges is Rs 80 and the Bill payments is in the range of Rs 450. 75% transactions on the wallet are urban transactions and Males are most active on the wallet in the age group from 25- 35 years.
These data and trend are based on transaction through Oxigen wallet over 200000 Oxigen Services retail touch points and over 25million user base.
The detail will be attributed to Mr. Sunil Kulkarni, Deputy Managing Director, Oxigen Services.
