Mahindra Comviva,’s digital payment solutions mobiquity® Wallet and payPLUS are now available on the cloud to provide banks with a robust platform to further their digital payments strategy and cater to the needs of cashless societies in the post demonetization era.

The firm says besides CAPEX and OPEX savings, banks will be able to deploy services faster, adapt to markets quicker, and serve their customers better.

Srinivas Nidugondi, SVP and Head, Mobile Financial Solutions, Mahindra Comviva said, “ Our products are already compliant with the India stack initiative of the government which makes onboarding of users through e-KYC and payments via UPI available to consumers as well as merchants, thus creating a strong base for cashless societies of the future.”

Mahindra Comviva is of the view that demonetization is a move towards cashless societies and better governance through increased transparency and accountability. However, it also believes that the broader goal of creating a cashless society will only remain a mirage without the wholehearted support and acceptance of merchants as well as paying customers.  In this regard, demonetization could very well serve as the catalyst for onboarding merchants as well as customers on to the digital payments platform.

To accelerate the adoption of digital payments amongst merchant as well as consumers, Mahindra Comviva provides a comprehensive portfolio of digital payment products. At the issuer end mobiquity® Wallet enables banks to provide its customers with mobile wallet enabling them to make quick, seamless and secure cashless payments. On the acquirer end, payPLUS equips merchants with affordable and robust mobile POS enabling them to process and accept card payments quickly and seamlessly thus completing a comprehensive end to end digital payments cycle.

mobiquity® Wallet offers a feature-rich digital wallet for consumers and a robust and flexible platform for service providers and their partners. It combines innovations in payments with attention to human factor, behavior-centered experience design, and innovative digital technology.

mobiquity® Wallet brings an evolution in mobile commerce by integrating payments, identity, loyalty, mobile marketing, location and social features. It leverages NFC (HCE), BLE, QR Codes, biometrics, geofencing and sound based payments creating compelling consumer experiences. It also supports e-KYC as well as payments leveraging the UPI infrastructure, remittance and merchant payments.