Aduragbemi Omiyale
By Aduragbemi Omiyale
The number of customers on the digital wallet platform of Colombian-based digital payments company, MOVii, has crossed 1.5 million.
MOVii is powered by Comviva’s mobiquity platform, which enables over 70 digital financial services in more than 50 countries.
The firm is ranked fifth amongst all financial institutions in Colombia in terms of transaction volume and has reached this milestone faster than any other financial institution in the country.
It is the country’s first 100 per cent digital money platform, where everything from customer registration to payments happens using the mobile application.
Its vision is to revolutionise financial inclusion by making it easier for everyone to pay and use their money digitally without paperwork.
MOVii’s digital wallet platform has been used extensively during the COVID pandemic by all sections of the society with its customer base and transactions increasing exponentially.
The digital wallet platform has enabled people to pay essential utility bills and invoices, shop online and transfer money to family and friends in need during the lockdown from the safety of their home.
More than 240,000 economically vulnerable people have received solidarity income from the Government of Colombia via MOVii, helping them to sustain themselves during the pandemic.
“MOVii and Comviva share the vision of leveraging digital technology to provide financial services to everyone without any discrimination.
“We are passionate about democratizing financial services and financially including even the economically vulnerable section.
“This vision and passion have resulted in MOVii achieving more than 1.5 million mobile wallet users.
“We will further accelerate this growth by delivering new digital financial services that are relevant and contextual for the people of Colombia,” the co-founder and CEO of MOVii, Hernando Rubio, said.
The CEO of Comviva, Manoranjan (Mao) Mohapatra, stated that, “We congratulate our partner MOVii for crossing the 1.5 million customer milestone.
“MOVii has democratized the financial access in Colombia as well as created a path for growth of a digital economy.
“The rapid growth in the use of MOVii during the pandemic, from solidarity income disbursement to remote payments from home during the lockdown, stresses the importance of digital financial services in today’s time as well as in future.
“We will continue to support MOVii in launching new innovative customer-centric use cases and delivering enhanced user experience.”
MOVii allows consumers to transfer money, get loans, receive financial aid, pay bills, make merchant payments, recharge mobile connections, and buy digital content, instantly, easily, and securely, anywhere, anytime using a mobile phone.
It has been continuously investing in innovation and launching new products focused on user needs. It is working on the launch of five new products: PSE payments, interbank transfers, international remittance, insurance and buy and sell crypto assets that shall drive its future growth. Forbes has adjudged MOVii amongst the 30 most promising Colombian businesses.
Comviva mobiquity Pay is one of the world’s largest digital financial services platforms. It serves the financial needs of over 130 million consumers and processes over 7 billion transactions valuing $130 billion annually.
