Mahindra Comviva launches cloud-hosted digital payments solution

Mahindra Comviva has announced that its comprehensive digital payment solutions mobiquity Wallet and payPLUS are now available on the cloud. At a time when money is increasingly becoming digitized, Mahindra Comviva’s cloud-hosted mobile financial solutions provide banks with a robust platform to further their digital payments strategy and cater to the needs of cashless societies in the post-demonetization era.

With Mahindra Comviva’s hosted digital payments solution, there is a strong incentive for banks to take the idea of cashless societies to every town and village. Besides CAPEX and OPEX savings, banks will be able to deploy services faster, adapt to markets quicker, and serve their customers better. Mahindra Comviva provides a robust and scalable platform for banks to onboard both new and existing customers quickly as well as speed up deployment of services.  

Mahindra Comviva is of the view that demonetization is a move towards cashless societies and better governance through increased transparency and accountability. Demonetization could very well serve as the catalyst for onboarding merchants as well as customers on to the digital payments platform.

Mahindra Comviva provides a comprehensive portfolio of digital payment products to accelerate the adoption of digital payments amongst merchant as well as consumers. At the issuer end, mobiquity Wallet enables banks to provide its customers with mobile wallet enabling them to make quick, seamless and secure cashless payments. At the acquirer end, payPLUS equips merchants with affordable and robust mobile POS enabling them to process and accept card payments quickly and seamlessly.      

Srinivas Nidugondi, SVP & Head, Mobile Financial Solutions, Mahindra Comviva, said, “In the follow-up to demonetization, the market will require a digital payments platform that is comprehensive enough to cater to the entire ecosystem of payments. We are proud to announce that our cloud-hosted digital payments solution is robust enough to cater to merchants as well as the customer for in-store payments as well as online payments. Our products are already compliant with the India stack initiative of the government which makes onboarding of users through e-KYC and payments via UPI available to consumers as well as merchants, thus creating a strong base for cashless societies of the future.”