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Comviva wins four international awards for mobiquity’s response during COVID-19 crisis

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NEW DELHI: Comviva said that it has won the 2020 Glotel Awards, 2020 Telecoms World Awards, 2020 CX Asia Excellence Award and The RemTECH Awards 2020 for its mobiquity’s response during COVID-19 crisis.

Comviva was recognized as the winner in the ‘Mobile Money Mastery’ category at the 2020 Glotel Awards; ‘The Innovation Award – Vendor’ category at the 2020 Telecoms World Awards; the ‘CX Vendor Excellence Award’ category at the 2020 CX Asia Excellence Awards and the ‘Innovation in a Time of Crisis’ at The RemTECH Awards 2020. All the awards were announced at the virtual award ceremonies held recently.

Comviva’s mobiquity is one of the largest digital financial service platforms globally, transforming the way people save, borrow, transfer and spend money. mobiquity enables over 70 telecom operators, banks and financial service providers in more than 50 countries to offer digital financial services to 130 million consumers meeting their financial needs. mobiquity processes over 7 billion transactions valuing US$130 billion annually.

During the COVID-19 crisis digital financial services have emerged as important tools in the fight against pandemic. From allowing consumers to conduct hygienic contactless payments at merchants and make essential money transfers and utility payments remotely from home during lockdown, to enabling governments to rapidly transfer financial aid to vulnerable people and collect donations for relief efforts, digital financial services have become vital payment systems in the pandemic era. Thus, Comviva is helping the digital financial service providers to rapidly make changes in their services and launch new features to enable and encourage the use of digital financial services to mitigate the impact of the pandemic.

Commenting on the win, Srinivas Nidugondi, COO and EVP, Digital Financial Solutions at Comviva said, “We are happy to be recognized by the Glotel Awards, Telecoms World Awards, CX Asia Excellence Awards and The RemTECH Awards for mobiquity’s Response during the COVID-19 crisis. We have seen that digital financial services are crucial in mitigating the impact of COVID-19 crisis and economic distress. Hence, in these unprecedented times we are committed to work with digital financial service providers globally and strengthen the collective fight against the pandemic.”

“These awards also validate our ability to innovate and quickly rise to the occasion in challenging conditions. We are pleased that mobiquity is leading the way in the fight against COVID-19 and helping to improve the lives of millions of impacted people,” he further added.

Mobiquity platform provides intuitive tools to digital financial service providers to rapidly make changes in the service pricing and transaction and wallet balance limits. In many countries, digital financial service providers quickly waived off the service fee on transactions and increased the transaction and wallet balance limits to encourage the use of digital financial services during pandemic. Consequently, these services have seen significant growth in transaction value and many of them have recorded their highest monthly or quarterly transaction value.

In some countries, easing of consumer on-boarding and KYC rules led to introduction of self-registration and eKYC, allowing people to subscribe to a digital wallet service remotely from home. In one of the North African country, Comviva worked with a leading digital service provider to introduce the self-registration service in record time. The service became an instant hit and the digital service provider saw a 10 percent jump in just two months.

In countries like Latin America, Africa and Middle-East, mobiquity platform facilitated direct distribution of government emergency grants or solidarity income digitally to thousands of vulnerable households impacted by the pandemic and lockdown, helping them to sustain in these challenging times.

Mobiquity also facilitated the collection of COVID-19 relief donations through digital wallets in some countries in Africa and Middle-East.

Comviva helped a mobile service provider operating in multiple African countries to launch ‘community champion’ service. The service encouraged consumers to use their digital wallet to top-up prepaid mobile connection of family and friends and help them to remain connected in these tough times. The consumers received airtime bonus for this community service.

Mobiquity also helped in enabling ‘Agent at Home’ service which allows digital financial service agents to visit consumer’s home and perform last mile deposit and withdrawal transaction at the doorstep.

Mobiquity also helped to continue festive traditions during pandemic albeit in a digital format. Comviva worked with a digital financial service provider in the Middle East to launch the Digital Ediya service. The service allowed users to send Ediya (the traditional money gift given during the festival of Eid) through digital wallet.

 

5g

Ericsson signs $8.3 billion 5G deal with Verizon

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NEW DELHI:Ericsson said that it has signed $8.3 billion agreement with Verizon to provide its industry-leading 5G solutions to accelerate the deployment of Verizon’s world-class next-generation 5G network in the U.S.

Niklas Heuveldop, President and Head of Ericsson North America, says: “This is a significant strategic partnership for both companies and what we’re most excited about is bringing the benefits of 5G to U.S. consumers, enterprises and the public sector. We’re looking forward to working with Verizon to leverage solutions like Cloud RAN and our Street Macro, adding depth and versatility to 5G network rollouts across the U.S.”

“With this new agreement, we will be able to continue driving innovation and widespread adoption of 5G,” said Kyle Malady, Chief Technology Officer for Verizon. “We are pleased to continue this work through our long-standing relationship with Ericsson.”

Under this $8.3 billion USD agreement, Verizon will deploy Ericsson’s 5G MIMO C-band, low-band and millimeter wave (mmWave) solutions to enhance and expand Verizon’s 5G Ultra Wideband coverage, network performance and user experience. Ericsson’s technology solutions, including Massive MIMO, Ericsson Spectrum Sharing and Ericsson Cloud RAN, complement the high-performing Ericsson Radio System portfolio to support 5G services. Ericsson’s industry-leading software functionality provides end-users with the speed and performance they expect from 5G networks.

In 2020, Verizon was the first communications service provider to receive a commercial 5G mmWave Street Macro base station from Ericsson’s award-winning new state-of-the-art U.S. smart factory in Lewisville, Texas. Ericsson is committed to building and accelerating the nationwide build-out of 5G across the country.

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Comviva launches next gen digital wallet and payment platform-mobiquity Pay X

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NEW DELHI: Comviva, the global leader in mobility solutions, today announced the launch of mobiquity Pay X, its next generation digital wallet and payment platform.

Mobiquity Pay is amongst the world’s largest digital financial services platforms, powering over 70 digital wallets and payment services for 130+ million consumers and processing over 7 billion transactions exceeding USD 130 billion annually in more than 50 countries.

With its new next generation mobiquity Pay X platform, Comviva has enhanced all aspects of digital financial solution, including scalability, faster deployment and time to market, simpler user lifecycle management & experience and enhanced security.

This new platform is completely built on microservices based architecture with fully independent and reusable components. The enhanced modularity facilitates faster time to market and greater scalability.

Mobiquity Pay X has enabled Open APIs to easily integrate with third party systems and extended financial ecosystem. To enhance user experience, the platform now offers a revamped slicker mobile app for consumers, agents, merchants and other business users and provides an advanced User Management System (UMS) that allows back-office users to easily manage the complete lifecycle of consumers, agents, merchants, and other business users seamlessly. Its intuitive user-interface, predefined templates and real-time feedback help quickly perform operations.

The new platform significantly strengthens security with robust authentication and authorization modules. It provides complete flexibility to easily configure various PIN, password and access rules as per the requirements. Its advanced session management capabilities help identify all active sessions and logins from a user through multiple devices and takes corrective action to prevent frauds.

Speaking on the launch, Srinivas Nidugondi, EVP and Chief Growth and Transformation Officer at Comviva, said, “COVID has significantly accelerated the growth of digital financial services and the entire financial ecosystem is growing at its fastest pace ever. Customer demand and public health priorities are pushing contactless payment adoption and our next generation mobiquity Pay X platform shall help financial service providers scale their digital wallet and payment services faster and seamlessly. With this new platform, Comviva has completely automated the software delivery process. The time to market has improved significantly with continuous product development, integration, testing, release and deployment.”

Mobiquity Pay X offers Order and Payment System that provides consumers a unified view of transactions performed by various payment instruments. It provides end-to-end tracking of entire payment transaction across all stages. It also enables back-office users to view status of payment transactions and identify failed and ambiguous transactions to take corrective actions like refund to complete the order-payment cycle.

The new mobile app is built using best-in-class design practices and has rich features including self-registration, biometric login, profile personalization, payment through multiple instruments (prepaid wallet, card, bank account), favourite transactions, multi-currency support, currency conversion, real time transaction tracking, referral bonus, merchant/agent locator, dynamic QR Code and many more.

With an enhanced monitoring and alerting system, mobiquity Pay X quickly aggregates system logs and key performance indicator data and provides a real-time bird’s eye view of critical operational parameters through visual dashboards. mobiquity Pay X has capability of proactive disaster management by identifying threshold breaches for critical application and system parameters in advance and providing real-time notifications for corrective actions.

Comviva has pre-integrated best-in-class technology in the areas of digital KYC and Personal Financial Management (PFM) to offer unparalleled value to consumers. These pre-integrated solutions in addition to offering enhanced experience to consumers, also significantly cut down cost and time to market while launching a digital wallet service. The platform also offers a document management system that provides flexibility to back-office users to quickly retrieve KYC documents a centralized repository for regulatory and business purpose.

 

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IT rules 2021 empowering, protecting users, asserts Ashwini Vaishnaw

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NEW DELHI: IT and communications minister Ashwini Vaishnaw on Sunday said the new information technology rules are empowering and protecting users.

He added that the new IT rules will ensure a safer and more responsible social media ecosystem in India.

“Reviewed the implementation and compliance of Information Technology Rules, 2021 along with my colleague Shri Rajeev Chandrasekhar ji. These guidelines are empowering and protecting users and will ensure a safer and responsible social media ecosystem in India,” Vaishnaw said on a social media account.

The new rules which came into effect from May 25 mandate social media companies to establish a grievance redressal mechanism for resolving complaints from the users or victims.

All significant social media companies, with over 5 million user base shall appoint a grievance officer to deal with such complaints and share the name and contact details of such officers.

The big social media companies are mandated to appoint a chief compliance officer, a Nodal Contact Person and a resident grievance officer. All of them should be a resident in India.

Twitter, which had been in the eye of the storm over its alleged failure to comply with the new IT rules in India, has named Vinay Prakash as its Resident Grievance Officer for India, according to the company’s website.

However, Facebook-owned Whatsapp has challenged the new IT rules for social media intermediaries requiring the messaging app to trace chats and make provisions to identify the first originator of information, saying they violate the right to privacy and are unconstitutional.

Whatsapp further alleged the requirement of intermediaries enabling the identification of the first originator of information in India upon government or court order puts end-to-end encryption and its benefits at risk.

Some of the media houses have also challenged the new IT rules and the matter is sub-judice.

Source: Press Trust of India

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