Mahindra Comviva launches cloud-hosted digital payments solution

Mahindra Comviva’s cloud-hosted mobile financial solutions provide banks with a 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, banks can further implement cashless societies-oriented solutions 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. Also, with digital payments primed to take off everywhere in the country, Mahindra Comviva provides a scalable platform for banks to onboard both new and existing customers, 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. However, it also believes that the broader goal of creating a cashless society will only remain a mirage without the wholehearted support and acceptance of merchants as well as paying customers. In this regard, demonetization could very well serve as the catalyst for onboarding merchants as well as customers on to the digital payments platform.

Srinivas Nidugondi, SVP and Head, Mobile Financial Solutions, Mahindra Comviva, speaking on the occasion 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.”

To accelerate the adoption of digital payments amongst merchant as well as consumers, Mahindra Comviva provides a new portfolio of digital payment products. At the issuer end mobiquity Wallet enables banks to provide its customers with mobile wallet enabling them to make cashless payments. On the acquirer end, payPLUS equips merchants with mobile POS enabling them to process and accept card payments, thus completing a comprehensive end to end digital payments cycle.

mobiquity® Wallet offers a digital wallet for consumers and a flexible platform for service providers and their partners. It combines innovations in payments with attention to human factor, behavior-centered experience design, and innovative digital technology. Designed to support a large and complex ecosystem, mobiquity Wallet enables financial institutions, retailers, telecom operators and other consumer service providers to re-engage and connect directly with their consumers, drive growth and strengthen their brand by staying abreast of an ever-evolving market and consumer behavior.

payPLUS empowers bank’s or acquirer’s merchant partners with a unified payment acceptance platform that enables the acceptance of any payment instrument such as Cards, Digital Wallets, UPI & mVisa across channels such as In-Store, App & Web thereby significantly reducing the barriers to adoption of these new technologies.

The merchant no longer has to remember multiple passwords across instruments, worry about new technology hitting the market or spends hours every day just checking sales across different digital instruments and channels. payPLUS offers a unified interface for merchants and acquiring entities to manage all instruments, channels and technologies through a single interface right from a mobile POS to new age wallets and the recent UPI & mVisa.

payPLUS is geared to extract the most out of the recent policy changes with its merchant self-onboarding functionality which significantly lowers the onboarding cost and allows the merchant to start accepting payments by downloading the app.