Comviva leads in mobile money and recharge solutions across growth markets

NEW DELHI, INDIA: Comviva, the global leader in providing mobile solutions beyond VAS, announced that is has 92 deployments of mobile money and recharge solutions globally.

Comviva’s multi award winning mobile financial services product, mobiquity is now present in 38 countries and has enabled over 230 million end customers to access and reap the benefits of convenient, card-free and cash-free financial services via their mobile phones. One leading Asian operator is performing over 410,000 utility bill payment transactions monthly on the mobiquity platform.

On deploying the award-winning PreTUPS electronic recharge solution, a leading South Asia operator 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. Across Africa, PreTUPS enables affordable recharge for 100 million mobile subscribers in 19 markets.

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

Srinivas Nidugondi, VP, 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.”

Comviva’s mobiquity mobile financial services platform is an award-winning white-labeled solution that empowers operators and financial service providers to cater to the diverse financial needs of both banked and unbanked customers. With mobiquity, banked customers have constant and convenient access to their complete financial services portfolio, as well as the ability to carry out everyday financial transactions. Comviva’s mobiquity platform can also be deployed to target banked customers, providing mobile access to people’s bank accounts and credit cards and enabling bill payments on the go.

For close to a decade, Comviva has successfully supported rapid mobile communications adoption in growth markets with its PreTUPS prepaid recharge solution. PreTUPS addresses the specific challenges of highly competitive, price sensitive markets – offering flexible denominations, and supporting and simplifying extensive distribution hierarchies to enable affordable, cost-effective service delivery.