Oxygen
Oxygen Global is a privately held, New Zealand–headquartered payment solutions company that designs, launches, and manages prepaid card, FX, and SME banking programs for banks, fintechs, governments, and corporates across Asia Pacific and the Middle East via its proprietary API-driven platform.
- Company typePrivate
- Founded-
- HeadquartersAuckland, New Zealand
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Oxygen does
Oxygen Global is a privately held payment solutions company headquartered in Auckland, New Zealand, operating across the Asia Pacific and Middle East regions. The company functions as a regulated program manager and B2B2X enabler for banks, fintechs, government entities, corporates, and SMEs, having delivered more than 200 prepaid, FX, remittance, and salary disbursement card programs over 15+ years of operation. Its primary markets are Australia, New Zealand, and the United Arab Emirates, with active expansion into the broader MENA region via a strategic partnership with Abu Dhabi Islamic Bank and a dedicated regional leadership role.
The company's core offering is a proprietary, API-driven payment platform supporting eight prepaid card categories (general purpose reloadable, gift, travel, corporate, salary and government benefits, external authorization, virtual, and digital), complemented by two named product platforms — Enable (an SME banking and issuing platform for bank clients) and the Oxygen Foreign Exchange Platform for cross-border payments — and a Generative AI module for onboarding and conversion. The platform integrates with Visa as core scheme partner, Apple Pay and Google Pay for mobile wallet tokenization, and a network of technology and channel partners (M2P, KlickEx, Finance Now, Youtap, Incremental, Live Payments, among others).
Oxygen generates revenue through four primary streams: program management fees for designing and operating card programs, transaction processing on prepaid, FX, and cross-border flows, API and technology licensing of the proprietary platform to banks and fintechs, and card production and personalization services. Pricing is bespoke and contract-based, sold via direct enterprise field sales to banks and government buyers under multi-year contracts. The company is led by CEO Rob Morrow, Executive Director Simon Hilton, CTO Mitish Chitnavis, and a regional operations leadership team, with 11–50 employees and no disclosed external funding to date.
Oxygen firmographics
Firmographics- Name
- Oxygen
- Legal name
- Oxygen Global
- Website
- https://oxygen-global.com
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Oxygen Global is a privately held, New Zealand–headquartered payment solutions company that designs, launches, and manages prepaid card, FX, and SME banking programs for banks, fintechs, governments, and corporates across Asia Pacific and the Middle East via its proprietary API-driven platform.
- Ownership category
- akta.pro rank
Oxygen industry classification
Industry- Product category
- Payment Infrastructure Software
- NAICS
- Credit Card Issuing (522210), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Card Issuing & Program Management Platforms (BPAMAFAH)
- akta.pro secondary industries
- Cards & Issuing Management (Debit/Prepaid/Credit, Program Management) (FSAGAAAE), Open-Loop Prepaid Cards (Network-Branded) (FSAMANAA)
Keywords
Where Oxygen is headquartered
LocationHeadquarters
- HQ city
- Auckland
- HQ country
- New Zealand
- HQ region
- Oceania
Markets served
Oxygen business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Program Management Fees: Fees charged for designing, launching, and managing card and payment programs for banks, fintechs, government entities, and corporate clients.
- Transaction Processing: Revenue generated from processing prepaid card transactions, cross-border payments, and FX conversions across the platform.
- API/Technology Licensing: Revenue from licensing proprietary payment platform APIs to banks, fintechs, and partner organizations for card issuance and payment processing.
- Card Production and Issuance: Fees from physical and virtual card production, personalization, and distribution services for corporate and government card programs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Enterprise/Bespoke Solutions |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels3 records
Oxygen product offering
Product offeringCore offering
Oxygen Global designs, launches, and manages card and payment programs for banks, fintechs, government entities, and corporate clients through a proprietary API-driven platform. Its portfolio spans prepaid card products (general purpose reloadable, gift, travel, corporate, salary/government benefits, external authorisation, virtual, and digital cards), the Enable SME banking and issuing platform, the Oxygen Foreign Exchange Platform for cross-border payments and real-time FX, generative AI applications for onboarding and conversion, and end-to-end card program management services covering compliance (PCI DSS, AML, KYC), fraud prevention, and dispute resolution.
Product overview
Oxygen Global offers a unified platform-plus-modules architecture centered on prepaid card solutions and payment infrastructure services. The core product portfolio spans eight distinct prepaid card types (General Purpose Reloadable Cards, Gift Cards, Travel Prepaid Cards, Corporate & Business Prepaid Cards, Salary & Government Benefits Cards, External Authorisation, Virtual Prepaid Cards, and Digital Prepaid Cards) supported by the Enable SME Banking Platform for account and card management. Cross-border payment capabilities are delivered via the Oxygen Foreign Exchange Platform. AI-powered customer engagement is handled through Generative AI Applications for onboarding and conversion optimization. Card Program Management services provide end-to-end program management for banks, fintechs, government entities, and SMEs. The platform is API-driven for flexible integration.
Differentiator
Problem solved
Functional benefit
Brands
- Enable: SME Banking & Issuing Platform - An SME platform that banks can offer their clients to issue cards, control spending, and manage multiple accounts and reconciliations.
- Oxygen Foreign Exchange Platform
Products and services
- Prepaid Card Programs
Companies that use Oxygen
Customer profileSegments8 records
Ideal customer profiles4 records
Oxygen technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability4 records
Feature5 records
Oxygen partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, major and minor.
- VisacoreVisa card scheme partnership enabling issuance of Visa-branded prepaid cards across all product categories including general purpose reloadable, gift, travel, and corporate cards.
- Apple PaycoreDigital wallet integration allowing digital prepaid cards to be added to Apple Pay for contactless mobile payments.
- Google PaycoreDigital wallet integration enabling digital prepaid cards to be loaded into Google Pay for Android device payments.
- ADIB (Abu Dhabi Islamic Bank)majorStrategic partnership with Abu Dhabi Islamic Bank for Islamic banking-compliant payment solutions in the MENA region.
- M2PmajorTechnology partnership for card issuance infrastructure and payment processing capabilities.
- Finance NowmajorPartnership with Finance Now for financial services innovation and SME banking solutions.
- KlickExcoreCross-border payment and foreign exchange technology partnership for multi-currency solutions.
- GM CabsminorCorporate client partnership for employee expense card solutions.
- iChooseminorChannel partner for prepaid card distribution.
- 212FminorChannel partner for financial services and card products.
- Peoples FirstminorChannel partner for customer-focused financial products.
- MyRewards CardminorPartner for reward and loyalty card solutions.
Scale indicators3 records
Recent moves6 records
Expansion highlights6 records
Oxygen competitors and assessment
Company assessmentDirect peers
- Marqeta: Publicly-listed card-issuing platform providing API-driven prepaid, debit, and credit card infrastructure for fintechs and banks — the closest functional peer to Oxygen's platform-plus-program-management model.
- Galileo Financial Technologies: Card-issuing and payments processing platform serving banks and fintechs with multi-currency and program management capabilities; overlaps directly with Oxygen's API-first issuance and FX offerings.
- Currencycloud: Cross-border payments and FX-as-a-service platform for banks and fintechs, comparable to Oxygen's Foreign Exchange Platform in functionality and target buyer profile.
- i2c: Global card-issuing and processing platform supporting prepaid, debit, credit, and multi-currency programs for banks and fintechs — directly comparable to Oxygen's prepaid and SME banking platform.
- M2P Solutions: India-headquartered card-issuing and core banking API platform serving banks and fintechs across APAC; listed as an Oxygen technology partner and competes for the same regional issuance deals.
- Nium: Global cross-border payments and card-issuing infrastructure provider with strong APAC and MENA presence, overlapping with Oxygen's FX platform and prepaid card issuance offerings.
Emerging players
- Pleo: Corporate prepaid card and expense management platform serving SMEs across Europe; comparable to Oxygen's Corporate & Business Prepaid Cards and Enable SME Banking Platform.
- Verestro: European-headquartered fintech offering card issuance, payment processing, and API-based banking infrastructure; competes for fintech clients seeking embedded prepaid and corporate card programs.
- Reap: APAC-based fintech providing card issuance and payment infrastructure for businesses and startups, with partial overlap in prepaid/virtual card programs and cross-border payments.
Broad incumbents
- Stripe Issuing: Embedded card-issuing infrastructure within Stripe's broader payments stack, offering API-driven virtual and physical card issuance to fintechs and platforms — competes for the same B2B2X client base.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Oxygen compliance and trust
Trust signalCompliance3 records
Oxygen financial estimates
Financial estimateRevenue estimate
Valuation estimate
Oxygen leadership team
Management profileNumber of profiles
Profiles6 records
Oxygen funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Oxygen M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Oxygen
What does Oxygen do?
Oxygen Global designs, launches, and manages card and payment programs for banks, fintechs, government entities, and corporate clients through a proprietary API-driven platform. Its portfolio spans prepaid card products (general purpose reloadable, gift, travel, corporate, salary/government benefits, external authorisation, virtual, and digital cards), the Enable SME banking and issuing platform, the Oxygen Foreign Exchange Platform for cross-border payments and real-time FX, generative AI applications for onboarding and conversion, and end-to-end card program management services covering compliance (PCI DSS, AML, KYC), fraud prevention, and dispute resolution.
Is Oxygen a public or private company?
Oxygen is a private company. It is classified as unknown and is currently operating.
When was Oxygen founded?
Oxygen was founded in -1. It employs 11 to 50 people.
Where is Oxygen based?
Oxygen is headquartered in Auckland, New Zealand, in the Oceania region.
How does Oxygen make money?
Four revenue lines are on record. Program Management Fees are the primary driver. The others are transaction Processing, API/Technology Licensing and card Production and Issuance.
Who are Oxygen's main competitors?
Direct peers on record are Marqeta, Galileo Financial Technologies, Currencycloud, i2c, M2P Solutions and Nium. Emerging players are Pleo, Verestro and Reap. Stripe Issuing is listed as a broad incumbent.
Does Oxygen have an API?
Yes. Oxygen provides a flexible, easy-to-integrate, API-driven proprietary platform. The platform offers comprehensive APIs for rapid product deployment, enabling banks and fintechs to issue cards, control spending, manage multiple accounts and reconciliations, access FX rates, and manage international transactions. Specific technical details (REST/GraphQL, authentication method, rate limits, sandbox) are not publicly documented.
What industry is Oxygen in?
Oxygen's product category is Payment Infrastructure Software. Its primary akta.pro industry code is BPAMAFAH, Card Issuing & Program Management Platforms, with a secondary code of FSAGAAAE, Cards & Issuing Management (Debit/Prepaid/Credit, Program Management). Its NAICS code is 522210 and its SIC code is 7372.