The Oxygen app makes banking simple, whether for business or personal use;
Oxygen announced the launch of a new digital banking solution specifically designed to meet the unique needs of freelancers and digital natives. Oxygen has built a platform from the ground up to provide flexible banking solutions to the millions of U.S. professionals who thrive on multiple income streams, contract work and freelance gigs. In addition, Oxygen announced that it has joined Visa’s Fast Track program, enabling the company to draw on the reach, capabilities and security of Visa’s network. Oxygen will also be leveraging Visa Direct, Visa’s real-time push payment solution, to ensure its freelancer customers can be paid fast.
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“That is critical for gig economy workers, who often don’t distinguish between their personal and business lives.”
The new Oxygen mobile app, available nationwide for iOS and Android devices, delivers a fast, frictionless, 100% mobile-based user experience. Oxygen is free to download in both the App Store and Google Play. Android is a trademark of Google LLC.
“The U.S. gig economy is booming, and in the current environment we will only see that increase. Unfortunately, some traditional institutions aren’t adapting,” said Hussein Ahmed, founder and CEO at Oxygen. “That’s leaving the newest generation of workers and those who are self-employed short on options.”
Ahmed’s struggles with his former bank despite operating a successful consulting business led him to create Oxygen. The company uses digital technology and a network of top partners to provide banking solutions to people who are now in the same situation that Ahmed was as a freelance consultant. Estimates suggest that freelance and self-employed workers will represent more than half of the U.S. workforce by 2027.
To address this new reality, Oxygen offers access to both a consumer and small business account, providing financial freedom, flexibility and predictability – all with zero monthly fees.
“Oxygen is an all-in-one banking platform that can intelligently manage both the personal and business sides of its users’ financial lives,” said Andre Bliznyuck, general partner of Runa Capital, an Oxygen investor. “That is critical for gig economy workers, who often don’t distinguish between their personal and business lives.”
