Mahindra Comviva wins “Best Mobile Money Product”

Mahindra Comviva wins Best Mobile Money ProductMichael Olawale Adetayo, country manager for Nigeria, received the award. (Image source: Mahindra Comviva)Mahindra Comviva has received recognition at the Kalahari Awards 2015 for its Mobiquity Money product

Mobiquity’s use in powering Airtel Money Tanzania’s NFC Payments service netted the India-based telecoms company the award for “Best Mobile Money Product Innovation” at the awards ceremony at the 5th Mobile Money Expo in Lagos, Nigeria last month.

The closed-loop NFC payments service is the first of its kind in Tanzania, with 4.3mn customers registered to Airtel Money in the East African country.

Mobiquity Money allows service providers such as Airtel to enable banked and unbanked consumers to conduct a range of transactions using a mobile-stored valued accounts, reducing fraud with “multi-level, bank-grade security”.

“We understand that the future of digital is now and with the introduction of NFC payment for developing markets, our aim is to bring the payments experience in emerging countries at par with the developed markets,” said Srinivas Nidugondi, senior vice president and head of mobile financial solutions at Mahindra Comviva. “The award motivates us to continue our focus on innovative digital payment propositions and encourages us to deliver value, convenience, and a secure alternative to cash for consumers and businesses alike.”

The Kalahari Awards recognise organisations which make positive contributions to the digital financial services sector.

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