Awarded for innovation and cutting edge Mobile Financial Solutions
New Delhi, India, June 30, 2014 Mahindra Comviva, the global leader in providing mobility solutions, has won top honors at the 12th edition of Frost & Sullivan India ICT Awards. Mahindra Comviva has been named the “Mobile Commerce Vendor of the Year” for promoting growth of digital payments.
The Frost & Sullivan awards recognizeand acknowledge companies who have pushed the boundaries of excellence – risen above competition and demonstrated outstanding performance in the Information and Communications Technology (ICT) sector in India.
The award presented during a ceremony held in New Delhi on June 24th is recognition of Mahindra Comviva’s commitment to accelerate the adoption of digital commerce through its comprehensive portfolio of solutions catering to the entire ecosystem – consumers, merchants, and banks. The mobile financial suite of productspowers over 120 mobile services in 55 countries and serves over 750 million mobile users globally.
According to Srinivas Nidugondi, Senior VP and Head of Mobile Financial Solutions at Mahindra Comviva, “The future of payments is digital and it is now. Given the right mix of consumer access and merchant acceptance, mobile payments can quickly become a very popular way to transact.Our mobiquity® suite of products is designed with the vision to build a viable, vibrant payments ecosystem enabling businesses and consumers to enter into mutually rewarding relationships. The Frost & Sullivan India ICT Awards demonstrates our market leadership in developing innovative digital payment propositions and delivering value, convenience, and a secure, better alternative to cash to consumers and businesses alike.”
Congratulating Mahindra Comviva on the Award,Mr. Benoy CS, Director, ICT Practice Frost & Sullivan said that backed by its technological prowess and strategic focus to build services that deliver value to customers across all segments, Mahindra Comviva has created a niche for itself. An extensive global footprint, market leading products and solutions, easy to use yet enhanced solutions along with strategic alliances and deep domain expertise have seen Mahindra Comviva emerge as the undisputed leader in the mobile financial services domain. With a huge chunk of the Indian population still unbanked, the ubiquitous mobile platform can provide a number of utility services through m-commerce and m-banking driving financial inclusion in the country.
New age digitally connected customers are increasingly comfortable using the mobile to transact and engage with brands. Digital payments are essentially a two-sided business, with the utility of holding payment instruments directly proportionate to the number of acceptance points.mobiquity®, an integrated mobile payments platform, is designed to address the fundamental two-sided nature of payments and fuel a virtuous cycle of growth in cashless transactions.
Mahindra Comviva’s award winningproduct, mobiquity® Money is a highly robust, secure, scalable and feature rich, mobile financial solutions platform that embraces mobile phone as a digital container for holding money and payment instruments. The platform allows the rollout of full range of banking and payment services across a wide range of devices and channels such as client apps, SMS, USSD, IVR, QR Codes, BLE and NFC – enabling service providers to successfully cater to the needs of various consumer segments.
For businesses, Mahindra Comviva’spayPLUS MPOS solution extends a complete suite of business- enablement solutions including card acceptance, catalog, inventory, loyalty management, and sales reporting to merchants. Designed to cater to a wide merchant base from small and medium businesses to large enterprises, the platform is highly customizable and services are delivered over the cloud to diverse merchant needs.
About Mahindra Comviva
Mahindra Comviva is the global leader in providing mobility solutions. It is a subsidiary of Tech Mahindra and a part of the USD 16.5 billion Mahindra Group. With an extensive portfolio spanning mobile finance, content, infotainment, messaging and mobile data solutions, Mahindra Comviva enables service providers to enhance customer experience, rationalize costs and accelerate revenue growth. Its mobility solutions are deployed by over 130 mobile service providers and financial institutions in over 90 countries, transforming the lives of over a billion people across the world.For more information, please visit www.mahindracomviva.com
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Sundeep Mehta
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