Mahindra Comviva has announced that its digital payment solutions mobiquity Wallet and payPLUS are now available on the cloud. At a time when money is increasingly becoming digitised, Mahindra Comviva’s cloud hosted mobile financial solutions provide banks with a robust platform to further their digital payments strategy and cater to the needs of cashless societies in the post demonetisation era.
With Mahindra Comviva’s hosted digital payments solution, there is a strong incentive for banks to take the idea of cashless societies 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 robust and scalable platform for banks to onboard both new and existing customers quickly as well as speed up deployment of services.
Mahindra Comviva is of the view that demonetisation 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, demonetisation could very well serve as the catalyst for onboarding merchants as well as customers on to the digital payments platform.
Srinivas Nidugondi, the senior vice president and head, of Mobile Financial Solutions at Mahindra Comviva, said: “In the follow up to demonetisation, the market will require a digital payments platform that is comprehensive enough to cater to the entire ecosystem of payments. We are proud to announce that our cloud hosted digital payments solution is robust enough to cater to merchants as well as the customer for instore payments as well as online payments.”
