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The digital payment server Oxigen and Federal Bank have partnered to allow over 3 lakh retail outlets of Oxigen to remit cash collected from customers to the bank through its e-collection platform.
Federal Bank has said that “As per the arrangement, three lakh plus retail outlets of Oxigen can now remit their cash collection at the Federal Bank branches pan India. This helps the outlets to get replenished their running limits on the spot enabling them to continue to serve the customers hassle free.”
Before accepting the payments, Federal Bank will be leveraging its e-collection platform for validating the details of the outlets on a real time basis.
