Tech mahindra
Tech mahindra

Mahindra Comviva acknowledged as one of the market leaders in Ovum Decision Matrix for white-label mobile wallet platform

New Delhi, India – January 20, 2015: Mahindra Comviva, the global leader in providing mobile financial solutions has been featured as a key innovator of white-label mobile wallet platform by Ovum Research in its recent Decision Matrix on Mobile Wallets. The Ovum Decision Matrix is considered as one of the industry benchmarks in evaluating leading solutions in major enterprise and industry-specific technology categories.

Titled “Selecting a White-label Mobile Wallet Platform 2014”, Ovum assesses white-label mobile wallet platform capabilities from multiple vendors based on a quantitative assessment of its influence on the global wallet market, quality and breadth of the functionality provided by its platform and underlying technology. Mahindra Comviva is ranked among 6 other players, basis strength of offering, richness of functionality, field credentials, as well as service delivery and execution capabilities.

According to the report, the market has entered a new phase of development and is poised for major growth. For banks, a wallet platform capable of integrating future changes and remaining flexible to market developments is the key to long-term positioning in the mobile payments space. Few banks will have the resources or desire to create a mobile wallet platform from scratch, and white-label mobile wallet providers are poised to help meet this demand by integrating into bank payment infrastructure more effectively.

Commenting on the achievement, Srinivas Nidugondi, Senior VP & Head of Mobile Financial Solutions, Mahindra Comviva, said “Mobility is an enabler and critical component for the fast evolving payments industry. Mahindra Comviva’s Digital wallet has coupled the flexibility of design with the ability to support the latest in technology to orchestrate a seamless mobile experience. We are honored by this esteemed recognition and will continue our efforts in providing relevant and personalized offerings to our customers.”

Mahindra Comviva’s mobiquity Wallet was recognized by Ovum research as a secure, easy to use and feature-rich digital wallet. To the consumer, it offers a personalized experience, value-added services and multiple payment methods in their purchase journey. To the wallet provider and their partners, it offers a robust and flexible platform combining innovations in payments with attention to human factor, behaviour-centred experience design and cutting edge digital technology. It aims to deliver a connected experience to the consumer and is designed to support a large and complex ecosystem.

The mobiquity Wallet has a very high level of functionality, with support for all the core transaction methods such as NFC – SE and HCE, BLE, biometrics, and QR codes. It can be used for non-payment use cases such as loyalty and identity management, either in-app or as a wraparound for third-party services. Unlike many of its competitors, the platform is currently HCE-ready and has a strong focus on security, including support for hardware security modules (HSM) and tokenization. It offers multi-region support, double-byte-encoded character sets and multi-tenancy, and it can share deployed infrastructure across multiple financial service providers.

Mahindra Comviva is among the top 3 mobile financial technology providers across the globe processing over 20 billion USD in payment flows, handling millions of transactions every day and serving 750+ million consumers globally.

About Mahindra Comviva

Mahindra Comviva is the global leader in providing mobility solutions. It is a subsidiary of Tech Mahindra and a part of the USD 16.5 billion Mahindra Group. With an extensive portfolio spanning mobile finance, content, infotainment, messaging and mobile data solutions, Mahindra Comviva enables service providers to enhance customer experience, rationalize costs and accelerate revenue growth. Its mobility solutions are deployed by over 130 mobile service providers and financial institutions in over 90 countries, transforming the lives of over a billion people across the world. For more information, please visit www.mahindracomviva.com

For further enquiries, please contact:

Sundeep Mehta

Global PR & Corporate Communications

Mahindra Comviva

Contact: +91- 124-481 9000

Email: pr@mahindracomviva.com

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Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.5 billion company with 115,850+ professionals across 90 countries, helping over 864 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is amongst the Fab 50 companies in Asia (Forbes 2016 list).

We are part of the USD 19 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership.

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For further information please write to connect@techmahindra.com

For further information please write to connect@techmahindra.com