Having 25% market share in the global mobile money market, Mahindra Comvivapublicized its gaining to the Indian market to provide the technological solutions and infrastructure to the payments banks in India on sidelines of the RBI’s announcement to issue licenses to 11 payments banks.
- Mahindra Comviva has enhanced its leading mobile financial solution “mobiquity”to meet the needs of the payments and small finance banks in India
- Company will focus on two core groups: the unbanked and millennial (aged 15-35 years)
- Mahindra Comviva’s technological product has been deployed with Idea and is expected to be adopted by Tech Mahindra as well when it rolls out its own payments bank
- Airtel Money in Africa already uses Mahindra Comviva’s systems
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