Comviva’s Flagship Mobile Money Product Hits 100m Customers
By Dipo Olowookere
The flagship mobile money product of Comviva, the mobility solutions firm, mobiquity® Money, now has 100 million customers using the product.
Users of the mobile money product cut across 45 countries with 3.6 billion mobile money transactions already processed, valuing over $60 billion annually.
On the occasion of completing a decade of mobiquity® Money, the company unveiled a coffee table book, chronicling the role the product has played in empowering customers and societies globally.
The coffee table book provides a selection of human interest stories from mobile money deployments in Asia, Africa, Middle East and Latin America.
The book was unveiled by Marc Rennard, Deputy Chief Executive Officer, Customer Experience and Mobile Banking, Orange Group at the Mobile World Congress, Barcelona.
Speaking at the launch, Manoranjan Mohapatra, Chief Executive Officer, Comviva said, “When the history of mobile payments is written, it will be worth recognizing the efforts of the many who overcame multiple challenges, in terms of regulators, the merchant network, banks, consumer trust and behaviour to bring in over 300 million unbanked customers into the financial inclusion fold.
“In the years to come, as people access all kinds of financial services, it is likely that this group would have played an important part.
“On the occasion of ten years of transforming lives through mobiquity® money, I would like to take the opportunity to congratulate our partners who have been with us through this journey.”
Unveiling the Coffee Table Book Marc Rennard, Deputy Chief Executive Officer, Customer Experience and Mobile Banking, Orange Group said “Mobile money is a tremendous tool that improves the welfare of people in under-banked economies, and that can complement banking offers elsewhere in the world.
“Orange Money and other mobile money services are constantly breaking new grounds in fields as diverse as financial inclusion, women’s health, migrant’s welfare, access to energy, development of small businesses and the progressive building of a cash-light economy.
“I am delighted to launch this coffee table book that contains a selection of life transforming stories from mobile money deployments across the world.”
mobiquity® Money enables a host of mobile money services that has transformed millions of lives across the globe by changing the way money is used, saved and distributed. For example, the facility to transfer and store money digitally on the mobile phone is very handy during emergencies.
In Mali, it has helped in the socio-economic empowerment of women by bundling pre-natal care with savings and insurance. In Tanzania, it is allowing non-smartphone users to tap and pay at merchants using NFC card linked to their mobile money account. In famine and drought hit areas of Africa, it is streamlining financial aid to the needy by streamlining donations.
Similarly, mobiquity® Money, in Zimbabwe, is powering remittance services, making it easier for the diaspora to send money to their families.