MOBILE MONEY SOLUTIONS FOR THE UNBANKED
mobiquity® Money not only empowers unbanked and the under-banked consumers to meet their financial needs, it empowers them with access to a full range of advanced financial services.
MONEY MAKES IT POSSIBLE
The power of mobiquity® Money also referred to as mobile money lies in bringing together telcos, banks, merchants, billers, enterprises and government entities into a cohesive ecosystem centered around the consumer. This convergence makes it possible for financial service providers to deliver a range of granular, scalable and secure financial services and system flows.
The mobile money solution empowers financial service providers to evolve and deploy services as befits their business needs. The scalable architecture that underlies the solution allows for multiple, customizable hierarchies that can be deployed to markets of any size and for transactions of any volume. Its inherent simplicity allows for easy set-up and management of the entire distribution network.
SERVICES FOR CONSUMER
With mobiquity® Money, service providers can deliver a range of services that multiply the power of money. The solution enables consumers to make money transfers both domestically and internationally, pay bills, make payments, buy tickets or recharge directly – all from their stored value account. The portfolio is extendable to last mile services such as cash-ins and cash-outs through certified agents. For the service provider, the solution enables easy definition and configuration of services – whether related to remittance, payment or micro-financing options – with fully controllable pricing policy, and loyalty program management.
Access mechanisms such as Web, WAP, App, SMS, IVR and USSD ensure propagation of services to a vast range of mobile devices, making the solution truly versatile and highly consumable.
ENSURING SECURITY AT EVERY STEP
Even while mobiquity® Money is designed for simplified and easy-to-use user experience, it makes no compromises when it comes to security. It ensures that service and payment implementations are safeguarded with multi-level, bank-grade security in order to reduce fraud and increase consumer confidence. The security framework includes multi-factor authentication for access and transaction control, while all data is encrypted with the industry-standard 3DES algorithm.
The mobile money solution adheres to international Anti Money Laundering requirements, implements the best practices in PIN and Password management, and configurable KYC processes. Over and above this, the entire security approach is strengthened by Mahindra Comviva’s proven knowledge of country-specific regulations.
OPEN SYSTEM THAT PROMOTES
mobiquity® Money is built with an open architecture to ensure interoperability with other open and close loop systems as well as allow seamless service extensions. The platform’s open APIs act as ready-made interfaces that allow external vendors to easily create new channels for service consumption. This openness enables thirty party agencies like merchants, remittance providers, other mobile money systems, billers and banks to use mobiquity® Money platform to offer payment services.
Our expanding partnerships with internationally reputed business entities bring scale, agility and value to the offering. Our partnership with MasterCard facilitates open loop payments, while our alliance with Western Union enables rapid launching of international remittance services.