New Delhi, India – 11 October 2017: Mahindra Comviva, the global leader in providing mobility solutions and Econet Wireless have jointly bagged two awards at the CEM Asia Excellence Awards 2017. The company was awarded Gold in the “Best Use of Mobile” and Silver in the “Best Digital Experience” categories for EcoCash mobile money service. The awards were presented recently at an award ceremony in Singapore.
EcoCash is Zimbabwe’s first and largest mobile money service with 6.7 million customers. It is provided by Zimbabwe’s largest mobile operator Econet Wireless and powered by Mahindra Comviva’s mobiquity® Money platform. EcoCash aims to minimize cash usage in Zimbabwe by enabling digital payments.
EcoCash powered by mobiquity® Money ensures “Best use of Mobile” as it is designed to leverage mobile phones to extend digital financial services to the unbanked and underbanked. It provides customers with a stored value account (prepaid wallet) linked to their mobile number. With EcoCash wallet, customers can transfer money, receive remittance, pay bills, pay merchants, recharge airtime and data, buy transit tickets, save money, get loans, open group-saving account, receive salary, get financial aid and more, all using their mobile phone anytime, anywhere. EcoCash can be accessed by all phones – feature-phones (using USSD) and smartphones (using mobile app).
EcoCash ensures the “best digital experience” by launching services that accelerate money-inflow into EcoCash system, digitizing everyday retail payments to minimize cash-outs, injecting liquidity in EcoCash system by mobilizing micro savings and diversifying into different consumer segments.
Speaking on the occasion, Srinivas Nidugondi, Senior VP and Head, Mobile Financial Solutions at Mahindra Comviva said, “We are very excited to have won these awards as it proves our capability to drive the transformation to cashless societies despite the many challenges in developing markets like Africa and Asia. The concept of financial inclusion is very close to our heart and we are glad that Econet Wireless chose us to provide the best possible service to EcoCash customers. We are determined to bring innovative mobile financial services to the market meeting financial aspirations of the people across the globe.”
Suresh Khosla, Vice President Sales for Asia Pacific at Mahindra Comviva said, “ We are truly honored to receive this award as it recognizes our technology leadership in mobility and digital payments as well as our continuous effort to innovate and make an impact towards the overall betterment of the society.“ Adding further, he said, “The wins are a testament of our hard work and leadership in the digital payments space and will motivate us to do even better in the future.”
The 2017 Customer Experience Asia Excellence Awards is part of the 5th CEM Asia Summit and honors the highest level of achievement in customer experience (CX) across the APMEA Community. The awards not only pay tribute to organizations that lead the way but also shine the spotlight on teams and individuals that are continuously innovating and excelling in the customer experience space.
mobiquity® Money delivers a host of mobile money services that transforms the way consumers save, borrow, transfer and spend money. It is designed to seamlessly integrate consumer touch points with a wide ecosystem of banks, billers, merchants and third-party payment systems, creating a convergence powered by interoperability. Apart from delivering convenience to consumers, the solution enables financial service providers to acquire new customers, create long-term loyalty with existing ones, and seize new revenue opportunities to increase their footprint in the market. mobiquity® Money empowers financial service providers to be agile in their markets, with complete focus on the customers. mobiquity® Money has clocked 65 deployments in more than 45 countries. It powers three of the top 10 deployments globally and processes 3 billion transactions annually amounting to $55 billion.
Note: mobiquity® is registered trademark in India only.
About Mahindra Comviva
Mahindra Comviva is the global leader of mobility solutions catering to The Business of Tomorrows. The company is a subsidiary of Tech Mahindra and a part of the $19 billion Mahindra Group. Its extensive portfolio of solutions spans digital financial services, customer value management, messaging and broadband solution and digital lifestyle services and managed VAS services. It enables service providers to enhance customer experience, rationalize costs and accelerate revenue growth. Mahindra Comviva’s solutions are deployed by over 130 mobile service providers and financial institutions in over 95 countries and enrich the lives of over two billion people to deliver a better future. In January 2016, the company acquired a controlling stake in Advanced Technology Solutions (ATS), a leading provider of mobility solutions to the telecom industry in Latin America to strengthen its in-region presence. For more information, please visit www.mahindracomviva.com
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