Oxigen Wallet Strategy 6w5f5u

OXIGEN WALLET NETHRA NAGIRI NITIE

OXIGEN WALLET – SWOT ANALYSIS Strengths

Opportunities

1. Full amount available for usage 2. Iconic ambassador 3. Compatible with all wireless data access technologies 4. Flat discounts, and cashbacks 5. Security and convinience 1. Tier 2, tier 3 cities & Rural markets 2. Increasing internet penetration 3. Unified Payments Interface 4. Leveraging 2,00,000 stores and new business deal with Big bazaar

Weakness

Threats

1. Increasing number of failed transactions 2. CRM 3. Less visibility 4. Not wide acceptability 5. Less attractive deals 6. Lack of awareness 7. No payment banking permission from RBI

1. Intense competition 2. Unified Payments Interface 3. Bank own payment wallets

SHORT TERM STRATEGY – (1-2) YEARS  More

visibility:

 Content marketing to create awareness among customers about advantages of oxygen wallet  Marketing via all channels of promotion like word of mouth, social media, digital media, print etc.  Providing offers and cashbacks at limited rate but at large number of merchants  Strategic

partnership:

 To be used as exclusive wallet of any of the top online companies like Freecharge for Snapdeal  Partnering with food applications like Food panda, Swiggy etc.  Converting the wide distribution network into wide acceptance network  Zero processing fees and service charges for transfers from banks to wallet and vice versa 

Rural market:

 Rural, tier2 & tier3 cities are potential markets because of internet penetration  Providing services in local languages to cater to large number of customers in rural areas  Moving into the Universal Payment Interface, there by using more of its features and gain early

advantage over competitors 

Customer related:

 Customer loyalty is to be maintained  Providing personalized discounts and cashback using SMAC to avoid uninstallation after first usage  Building a better CRM and providing better customer care services

LONG TERM STRATEGY – (3-7) YEARS

 Leveraging its strong network, the wallet can be modified as wallet for multi

purpose and

one-stop wallet

 Linking with local kirana stores,  Making the running s digital(part of UPI)  USP: People can withdraw or make transfers by paying these kirana store owners

i.e. all the banking services can be carried through these local merchants/agents of OXIGEN  There by providing service effectively 24*7 in villages where internet penetration in not as high as expected and also building trust among future customer base  Creating KYC centers and dedicated agents to bring Kirana stores on board as well as for verification of them  Missed call balance enquiry for wallet balance and functioning of Oxigen wallet

over 2G without

internet as well for uninterrupted services.

 Partnerships with other e-commerce companies and retailers setting up a secure

transaction to

be used as preferred model of payment.