Bengaluru, NFAPost: Comviva, a global leader in mobility solutions, has rebranded its flagship white-labelled digital financial services platform mobiquity® Money to ‘mobiquity Pay‘.
The mobiquity® platform and brand name was launched in 2007 and, over the last 13 years, has become amongst the world’s largest digital financial services platform. It powers over 70 digital financial services in more than 50 countries, serving the financial needs of over 120 million consumers and processing 7 billion transactions valuing $ 130 billion annually.
Speaking on the rebranding, Comviva Digital Financial Solutions EVP and COO Srinivas Nidugondi said the digital financial services space is evolving rapidly, with consumers demanding comprehensive financial products that offer new services, house innovative features and facilitate faster payments and a frictionless experience.
“To cater to these requirements, we have taken our widely deployed mobiquity® Money platform to the next level by unveiling a new brand identity; mobiquity® Pay,” said Comviva Digital Financial Solutions EVP and COO Srinivas Nidugondi
Comviva Digital Financial Solutions EVP and COO Srinivas Nidugondi said this change is in line with the company’s vision of simplifying digital payments, coupled with providing enhanced consumer experience and catering to all consumer segments, ranging from the unbanked to the banked.
“For banked and carded consumers, mobiquity® Pay provides the option to save a payment instrument like a credit card, debit card or bank account with the digital wallet to make payments. For financially underserved consumers who need a digital wallet, mobiquity® Pay offers a stored value account (SVA) and a prepaid digital wallet facilitating multiple financial transactions such as money transfers, bill and merchant payments, salary payments, etc,” he further added.
mobiquity® Pay is built on a micro-services based architecture. The micro-services are designed and developed to be fully independent and reusable. The auto scalability of a micro-service, independent to any other micro-service running in the system, provides efficient load regulation. The architecture enhances platform reliability and safety with self-monitoring and self-healing capabilities using readiness probe, liveliness probe and graceful shutdown.
mobiquity® Pay also accelerates time to launch new digital payment services, providing competitive advantage to digital financial service providers. It enables the rapid launch of digital payment services in approximately one fifth the time taken using the extensibility framework.
The service creation manager helps in creation of new services by cloning existing services and modifying the business flow. mobiquity® Pay expedites rapid service expansion for developers and third-party service providers, by providing open APIs to enable integration with the digital financial services ecosystem.
Supporting over 1,000 integrations across deployments, mobiquity® Pay provides technology teams with a middleware layer to enable faster third-party integrations, reducing go-to market time considerably.
mobiquity® Pay is a cloud native platform with an open source tech stack. It enables an open supply chain with respect to hardware. The cloud based deployment enables reduction of costs to launch a digital payment service and thereafter scale rapidly.
It also provides economic efficiencies of shared infrastructure in the long run. Open supply chain enables a reduction in hardware cost. It supports deployment on both private and public clouds. mobiquity® Pay platform also supports 100 per cent automated deployment with zero downtime. This is enabled using a continuous integration and continuous delivery (CI/CD) pipeline based approach.
Comviva’s mobiquity® Pay is a holistic platform serving consumers, service providers and their partners alike. It facilitates digital payments for all customer segments banked or unbanked through all form factors and modes like USSD, mobile applications, IVR, Web, QR codes, NFC et al. The rebranding will reinforce the platform’s leadership position and its ability to provide one-stop solution for all requirements pertaining to digital money, wallet, and payments.