CEO Weekends:Mahindra Comviva’s mobiquity® mPayments Is Best Mobile Banking Technology in Asia & Africa

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Mobile financial and VAS solutions provider, Mahindra Comviva, has today said its mobiquity® mobile financial services platform has been awarded the best Mobile Banking Technology award by World Finance Technology Awards 2013 held in London.

According to Srinivas Nidugondi, Head of Mobile Financial Solutions, Mahindra Comviva, “The convergence of banking and mobile has a strong transformative potential in Asian and African economies, as mobile networks are very often the only communications infrastructure and mobile devices the most widely available platform for consumers to initiate transactions with banks”.

Mahindra Comviva was recognized for its work in delivering relevant technology solutions for accelerating financial services growth in Asia and Africa.  Established in 2007, The World Finance awards recognizes the evolving trends across the financial world and identifies industry leaders, individuals, teams and organizations that represent the benchmark of achievement and best practice in the business world.

Mahindra Comviva’s mobiquity® mobile financial services platform enables banks and mobile network operators to cater to diverse financial needs of banked and unbanked customer segments. Deployed by over 60 financial and non-financial institutions in 38 markets across the globe, mobiquity® accelerates the shift from a “cash to a cashless” economy. In 2012, the system processed transactions approximating USD 5 billion in value.

The platform links a mobile wallet account to any payment instrument (cash, bank account, debit and credit cards), which customers can access using multiple access mechanisms, including Apps, STK, USSD, Web and NFC.  The platform can be used as for domestic and international inbound remittances salaries and government grants and use available funds to pay insurance premiums taxes utility bills, and merchants.