Cassava Smartech and Comviva have jointly won the Juniper Research Future Digital Award 2018 in the “Best Mobile Money Offering” category for EcoCash mobile money service powered by mobiquity® Money. The Future Digital Awards 2018 were announced by Juniper Research on 3rd December and honoured companies that have made outstanding contributions in payments, fraud prevention and retail. The awards are decided by a panel of expert judges based on a number of criteria, including: Product features and user benefits; Innovation; Commercial partnerships; Commercial launches; Certification and compliance; Potential future business development.
Launched in 2011 by Econet Wireless, EcoCash is Zimbabwe’s largest mobile money service. EcoCash leverages mobile technology to extend digital financial services to the unbanked and under-banked consumers. EcoCash has over 8 million registered customers facilitating financial inclusion for 80% of Zimbabwe’s adult population. EcoCash has digitised various financial transactions in Zimbabwe ranging from domestic and international remittances to merchants payments and savings, thus creating a cash-light economy. 70% of the Zimbabwe’s National Payment Volume is processed through EcoCash, helping to reduce cash crisis.
Speaking on the win, Eddie Chibi, CEO Cassava Smartech said, “At Cassava Smartech our ambition is to empower lives by offering equitable access to financial services to all the people of Africa. We focus on serving where the need is greatest and this stems from our deeply held aspiration of doing well by doing good. Through EcoCash we are leveraging mobile technology to extend financial inclusion in Zimbabwe and create a cash-light economy.”
Srinivas Nidugondi, Chief Operating Officer, Mobile Financial Solutions at Comviva said, “We believe mobile money solutions that cater to the necessities of the people on the ground have the power to bring financial revolution in emerging markets. EcoCash in Zimbabwe is one such service, which has replaced cash and is helping in alleviating the cash problem and accelerate financial inclusion in the country. The award is powerful endorsement of our efforts in bringing innovative fintech services to the forefront.”
EcoCash is powered by Comviva’s mobiquity® Money platform. mobiquity® Money is world’s leading mobile money platform with over 60 deployments in more than 45 countries. It provides digital financial services to over 100 million consumers, processes more than 5.5 billion transactions amounting to over $110 billion annually. It delivers a host of mobile money services that transforms the way consumers save, borrow, transfer and spend money. It facilitates plethora of features and services, including domestic and international remittances, bill payments, person-to-government payments, NFC merchant payments, QR Code based payments, companion cards, savings, savings club, micro-loans, bulk payments and many more. It is designed to seamlessly integrate consumer touch points with a wide ecosystem of banks, billers, merchants and third-party payment systems, creating a convergence powered by interoperability. Apart from delivering convenience to consumers, the solution enables financial service providers to acquire new customers, create long-term loyalty with existing ones, and seize new revenue opportunities to increase their footprint in the market. mobiquity® Money empowers financial service providers to be agile in their markets, with complete focus on the customers.
*Note: mobiquity® is registered trademark in India only
About Comviva Technologies Limited
Comviva is the global leader of mobility solutions catering to The Business of Tomorrows. The company is a subsidiary of Tech Mahindra and a part of the $21 billion Mahindra Group. Its extensive portfolio of solutions spans digital financial services, customer value management, messaging and broadband solution and digital lifestyle services and managed VAS services. It enables service providers to enhance customer experience, rationalize costs and accelerate revenue growth. Comviva’s solutions are deployed by over 130 mobile service providers and financial institutions in over 95 countries and enrich the lives of over two billion people to deliver a better future. For more information, please visit www.mahindracomviva.com
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Sundeep Mehta | Manager – Global PR & Corporate Communications |
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www.mahindracomviva.com