Acclaimined leader in mobile
solutions, Comviva, is leading a strategic partnership with MasterCard to
launch a first-of-its-kind open loop Mobile Money Partnership Programme.
ITRealms Online, gathered that Comviva
would be working MasterCard to help over 2.5 billion financially underserved
consumers globally to gain access to mainstream financial services – via their
mobile phone.
A press statement made
available to ITRealms Online, showed
that the partnership would leverage on building upon its leadership in
technology to create a solid ecosystem of trusted business relationships and
symbiotic partnerships.
This, the company also stated
has enabled Comviva to deploy a large number of mobile commerce solutions
across the globe, even as Comviva’s mobiquity is a multi award winning mobile
financial solution that has already crossed over 55 deployments, 490 million
subscribers in 38 countries.
With mobiquity, the official
statement added that mobile users could quickly, easily and safely access a
range of financial payment services. It also provides multiple proven
integrations, including payment, banking, credit card and Automated Teller
Machines (ATM) switches and systems.
The chief executive officer,
Comviva, Mr. Manoranjan Mohapatra, was quoted as saying that with the firm’s established
leadership in empowering mobile money technology across geographies, they are
thrilled to support MasterCard’s first-of-its-kind open loop Mobile Money
Partnership Programme.
“Our dominance in emerging
markets makes us as an unequivocal partner of choice for MasterCard to cater to
underbanked segments with intuitive financial services. With mobile financial
services turning into a key business strategy for banks and telecom vendors,
this program will also give the right impetus to financial and social
inclusion,” he said.
Equally commenting, the Group
Executive, Mobile, MasterCard Worldwide, Mr. Mung Ki Woo, noted that with about
5 billion mobile phone users globally, this partnership programme provides
powerful, smart and convenient new payment options to people through a device
that is already in the palm of their hands today.
“To ensure success of this
programme, MasterCard has partnered with the leading players in the mobile
money ecosystem. Comviva was a key partner of choice to empower billions of
underserved segments in the developing market,” he said.
He explained that the partnership
would address the need of consumers in developing markets through a readily
accessible device, the mobile phone.
Hence, Comviva would work
with MasterCard to enable global consumers to purchase goods and services via
their mobile phone at millions of physical and online merchants, as well as
transfer funds and pay bills.
ITRealms Online recalls that according to recent Juniper Research, the combined market for all types of mobile payments is expected to reach more than $600B globally by 2013, double the current figure.
Remmy Nweke
ITREALMS Online ... delivering news for ICT4D
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