• Starts Operations in Brazil
  • Aims for continued growth as mobile financial and VAS services in Latin America are projected to grow rapidly

São Paulo, Brazil – October 01, 2013: Mahindra Comviva, a subsidiary of Tech Mahindra and part of the USD 16.2 billion Mahindra Group, recently started its operations in the Brazilian market. The company also announced the appointment of Fabio di Santoro as its Country Manager for Brazil.

Mahindra Comviva is a global leader in providing mobile financial and VAS solutions and a preferred partner of major operators in El Salvador, Guatemala, Honduras, Bolivia, Colombia, Paraguay, Guyana, Curacao and Peru. Over the past few years, Latin America has significantly increased its contribution to overall company revenue, powered mostly by its award-winning mobile money and recharge solutions. Apart from this, its mobile messaging, mobile business solutions, internet & broadband solutions have witnessed huge demand from large operator groups.

The company plans to expand its market share in the mobile banking and payments space in LATAM using its award winning mobiquity® mobile financial solution. Recently, the company also launched its payPLUS MPOS solution, which will enable merchants, SMB’s and service professionals to convert their mobile phone into a Point-of-Sale (POS) device and drive transaction volumes by accepting cards anywhere, anytime.

“We’ve been doing business in Latin America for more than three years now. Our expansion in the Brazilian market is part of our ongoing strategy to forge closer ties with our customers across the region. By strengthening our presence and capabilities in Brazil, we will be able to serve our customers better while responding faster to market opportunities.” said Max Padró, Vice President, Latin America & Caribbean, Mahindra Comviva. “We are happy to appoint Fabio as our country manager for Brazil. Fabio’s extensive knowledge and experience in the telecommunications industry will help us grow our business in Brazil.”

Fabio brings with him over 13 years of experience in the telecom industry and possesses a clear understanding of the Brazilian market. Prior to joining Mahindra Comviva, Fabio has taken up various sales and business development roles for companies like Acision, Huawei and Nokia Solutions and Networks.

Speaking on the occasion, Fabio di Santoro, Country Manager for Brazil, Mahindra Comviva, said “I am excited to be associated with a brand like Mahindra Comviva, which has presence across the globe. Over the years, the company has added innovative financial and VAS solutions to its portfolio that enable operators to differentiate their brand, create and sustain new revenue streams and drive ARPU. With our growing footprint in the region, we will continue to help regional operators and financial institutions to achieve bottom line benefits, with solutions that drive operational efficiencies and optimize existing investment.”

Mahindra Comviva will showcase its innovative offerings at Futurecom 2013, Rio de Janeiro from 22nd to 24th October 2013 at booth D52, Pavilion 4.

About Mahindra Comviva

Mahindra Comviva is the global leader in providing mobile financial and VAS solutions. It’s a subsidiary of Tech Mahindra and a part of the USD 16.2 billion Mahindra Group. With an extensive portfolio of solutions spanning mobile finance, content, infotainment, messaging, mobile data and managed VAS services, Mahindra Comviva enables service providers to enhance customer experience, rationalize costs and accelerate revenue growth. Its solutions are deployed by over 130 mobile service providers and financial institutions in over 90 countries and enrich the lives of over a billion people, globally. For more information, please visit http://www.mahindracomviva.com/olddata

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Media Contacts

Sundeep Mehta
Global PR & Corporate Communications
Mahindra Comviva
T: + 91 124 481 9000