Mahindra Comviva Augments Its Mobile Payment Solution With e–Wallet Mobiquity

Mahindra Comviva has introduced a Digital Wallet called Mobiquity Wallet.

The mobile Value Added Service (VAS) arm of tech conglomerate Mahindra & Mahindra (M&M) has extended its Mobile Payment Processing platform to include an e-Wallet. The new product will include most modern communication standards commonly found in a smartphone to exchange financial information and execute the payment, revealed an official statement from the company,

“Mobiquity® Wallet enables both remote and proximity payments and focuses on bringing together the customer’s pre-payment and post payment experience including loyalty, couponing and location based services and makes use of technologies like NFC, Bluetooth Low Energy (BLE) and QR Code to support different scenarios.”

The statement offers a lot of clarity as to why Mahindra Comviva feels the e–Wallet has decent chances of performing well amidst the rising competition. The company must be well aware of multiple other service providers who are interested in offering Mobile based and Digital Payments solutions to the end–user.

It is interesting to note the way the company has stepped into Payment Processing. While others have either offered a Payment Processing front–end (Apps or hardware), or a Payment Processing back–end (Payment Aggregator Service), Mahindra Comviva is trying to offer multiple choices for merchants in such a way that the customer isn’t forced to make a choice about the payment technique.

The company initially launched payPLUS, a simple mobile Point Of Sale (mPOS) that makes use of a Card Swiper attached to a mobile phone of the merchant. This allowed merchants to quickly process the Payments executed via Debit / Credit cards. But Mobiquity is essentially directed towards the end–user / consumer as the platform resides in their phones and allows them to pay via any of the multiple communications standard that the phone might have.

Digital Payment Segment has proven to be a very actively explored technology. Let’s see how well this multi–standard platform performs.

Source | indiadigitalreview

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