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Comviva Accelerates the Growth of Digital Financial Services in Middle East

Comviva Accelerates the Growth of Digital Financial Services in Middle East

Comviva, the global leader in digital financial solutions, today announced that its flagship mobiquity® platform, that powers over 70 digital financial services in more than 50 countries, is rapidly expanding its presence in the Middle East and transforming the digital payments and banking landscape in the region. In Middle East, mobiquity® platform is enabling 15 banks and telecom operators in 9 countries to offer convenient and secure digital wallet, digital banking and contactless payment services to millions of consumers.

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Comviva’s mobiquity® platform is amongst the world’s largest white-labelled digital financial services platform meeting the financial needs of over 130 million consumers and processing 7 billion transactions valuing US$ 130 billion annually. In Middle East, 10 banks in countries including OmanQatarKuwait and Jordan have leveraged Comviva’s global experience in digital financial solutions to bring the latest digital wallet and payments capabilities to the region.

mobiquity® platform which includes products including mobiquity® Pay  and mobiquity® Banking Suite offers a host of digital services such as holistic, feature-rich and hyper-personalized digital wallets. It  offers digital payments ranging from remittances to merchant payments; contactless mobile ‘tap & go’ payments using HCE technology and Tokenization; and multi-channel personalized digital banking experience which includes mobile banking, internet banking and banking on Gen-II channels.

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Digital wallet is one the most widely deployed and used functionality of the mobiquity® platform. It simplifies digital payments, enhances the consumers experience and caters to different needs of various consumer segments. For consumers who need a prepaid digital wallet mobiquity® offers a stored value account (SVA) facilitating multiple financial transactions such as money transfers, bill and merchant payments, salary payments etc. For consumers who want to use their existing cards and bank accounts, mobiquity® provides the option to save a payment instrument like a credit card, debit card or bank account with the digital wallet to make payments.

Vivek Agrawal, Vice President and Head of Enterprise Business at Comviva said, “The digital financial services space in Middle East is evolving very rapidly. Today, consumers are demanding comprehensive financial products that offer new services, house innovative features and facilitate faster payments and a frictionless experience. Our mobiquity® platform caters to these requirements offering consumers a world-class digital experience in payments and banking.”

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