Oxigen Services, a payment solutions firm, has partnered with Rupay and RBL Bank to launch a new debit card that is linked with a new expense management solution.

The new solution features On-the-Fly EKYC to offer immediate activation of the card.

Intended for small and medium-sized enterprises (SMEs) and large corporates, the card is expected to provide various services, benefits, rewards, incentives and salary disbursement without the need for opening a bank account.

The debit card can be used at any point-of-sale (PoS) terminals across the country, as well as a virtual card on e-commerce sites. It can also be used to withdraw cash from ATMs.

Oxigen Group vice-chairman and CEO Ankur Saxena said: “We are delighted to launch India’s first true paperless expense management solution. It will be a game changer in driving digital payments for companies.

“By offering solutions for operational expenses, salary payments, OEMS will create a true cashless infrastructure. Employee benefits, paper bill reimbursements and micro salary disbursement amounts to a big chunk of paper work and that will all reduce with OEMS.”