Mahindra Comviva, a global leader in mobile financial solutions, announced today that it has been selected by Geva Group, a fintech company headquartered in Panama as its technology partner for MFS business. With this partnership, the two companies are joining hands to offer innovative mobile financial solutions (MFS) to telecom operators, banks, financial institutions and consumer packaged goods (CPG) companies in Central America and Caribbean.
Comviva’s strong focus in innovation, development and deployment of mobile financial services is an ideal fit for Geva Group that plans to bring out mobile and digital payments to businesses in the region and expand the concept at a rapid pace. Comviva’s leadership and experience in building a robust ecosystem for MFS businesses across the globe would help the Geva Group to growin the region. Geva Group will bring a wealth of experience and understanding of Central American and Caribbean markets which will help Comviva to expand its footprint in the region.
Speaking on the occasion, Mr. Srinivas Nidugondi, SVP and Head, Mobile Financial Solutions, Mahindra Comviva said ”We welcome our new partnership with Geva Group. The partnership will strengthen our commitment to developing the next generation of digital financial services in Central America and Caribbean by leveraging the ubiquity of mobile. Geva Group’s highly experienced team and knowhow of regional and country level needs will be instrumental in marketing and distributing Comviva’s best in class mobile financial solutions.”
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Mr. Gabi Geva, CEO, Geva Group said, “Geva Group is an established fintech company in Central America and Caribbean. We have a successful cash-collection business in Panama and are looking to leverage mobile solutions to bring more efficiency, scale and speed in our operations. Moreover, we want to create a robust financial ecosystem which will enable banks, telecom operators, financial institutions and CPG companies to offer mobile financial service to financially under served consumers in the region. To attain these objectives, Geva Group was looking for a global leader in mobile financial solutions who could be a trusted partner and consultant. We are happy to have chosen Mahindra Comviva, a global specialist in mobile financial services, as a valued partner to provide solutions for meeting Geva Group’s business needs.”
Comviva is a global leader in mobile financial and prepaid recharge solutions, powering over 130 deployments in telecom operators, banks and financial institutions in more than 55 countries serving over 1 billion consumers. The company provides mobile financial solutions catering to both issuing as well as the acquiring businesses. On the issuing side, mobiquity® suite, which includes mobiquity® Wallet and mobiquity® Money, delivers integrated and contextual digital payment experiences to consumers. The mobiquity® Wallet ushers in an evolution in mobile commerce by integrating payments, identity, loyalty, mobile marketing, location and social features and leverages technologies like NFC (HCE), BLE, QR Codes, biometrics, geo fencing and sound based payments creating frictionless payments. Meanwhile, targeting to drive financial inclusion, mobiquity® Money is an all-inclusive platform that equips un-banked and under-banked consumers with a stored value account linked to their mobile number enabling them to perform multiple financial transactions from their mobile phone. On the acquiring side, Comviva’s payPLUS is a unified payment acceptance platform that allows merchants to accept several payments instruments such as cards, digital wallet and mVisa across channels such as In-Store, App & Web.