Comviva increases Mobile Money Solutions

Comviva has augmented the deployments of mobile money and recharge solutions globally to as many as 92, said a press note. Comviva's mobile financial services product, mobiquity is present in 38 countries and has enabled over 230 million end customers to access card-free and cash-free financial services via their mobile phones.

On deploying PreTUPS, electronic recharge solution, the company has penetrated the huge low-income market segment by offering previously unavailable low denomination top-ups — which now constitute over 95% of all top-up sales in that market.

In India, a major operator, with over 100 million subscribers, is providing mobile payment and ticketing services using the mobiquityâ„¢ platform. In Bangladesh, a leading operator pioneered international remittance services between major migrant-worker markets using mobiquityâ„¢. In Cambodia, a regional bank provides an end-to end suite of financial services, including salary payments, remittance services and bill payments.

Srinivas Nidugondi, vice president, Mobile Financial Solutions, Comviva, said, “We have long recognized that a vast and untapped opportunity exists to provide people with easy access to formal financial services across emerging markets worldwide. Enabling payments and P2P transfers is a compelling proposition — especially in markets where financial networks are relatively weak. We are leading the market in working with service providers to meet this demand.”