wordpress blog stats
Connect with us

Hi, what are you looking for?

Comviva Partners MasterCard To Launch Mobile Money Program

Mobile VAS company Comviva has announced a partnership with payments company, MasterCard to launch an open loop Mobile Money partnership program, allowing customers to access major financial services on their mobile phones. The company says that its main focus would be the underbanked, underserved segments in emerging markets and claims that the program is expected to help 2.5 billion customers gain access to these services on their mobile phones.

Note that 35% of Comviva’s revenues comes from its mobile payments product Mobiquity, which the company claims has already crossed over 55 deployments, and 490 million subscribers in 38 countries.  The service allows mobile users to access financial payment services, and integrates payment, banking, credit card and ATM switches and systems.

According to Comviva, it will now work with MasterCard to implement the mobile money program globally, enabling financial transactions like bill payments, remittances and purchase of goods and services at physical and online merchants via mobile phones. Additionally, through the partnership, Comviva and MasterCard also intend to assist mobile network operators and financial institutions in developing and deploying financial services offerings to their customers, including virtual mobile wallets that offer basic services such as mobile top-ups, bill payments and P2P payments within their networks.

The announcement comes close on the heels of HDFC partnering with Movida, a JV backed by Visa and the UK based mobile payments solutions provider, Monitise to launch USSD based mobile payments service in India. Telecom operator Airtel also announced the pan-India rollout of its semi-closed mobile wallet service Airtel Money which the company claims to be available in 7,000+ merchant outlets in 300 cities across India.

Mahindra Satyam To Acquire Stake In Comviva: Report; Financials
HDFC Bank Partners Monitise-Visa JV To Roll Out USSD Based Mobile Payments

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....


By Anand Venkatanarayanan                         There has been enough commentary about the Indian IT...


By Rahul Rai and Shruti Aji Murali The Indian antitrust regulator, the Competition Commission of India (CCI) has a little more than a decade...


By Stella Joseph, Prakhil Mishra, and Surabhi Prabhudesai The recent difference of opinions between the Government and Twitter brings to fore the increasing scrutiny...


This article is being posted here courtesy of The Wire, where it was originally published on June 17.  By Saksham Singh The St Petersburg paradox,...

You May Also Like


The month of July recorded an increase of 432.5 million in the number of UPI transactions and saw the highest number of average transactions...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ