Comviva and Cassava Fintech jointly won the GSMA GLOMO award in the “Best Mobile Innovation for Women in Emerging Markets” category for the EcoCash Savings Club service powered by Comviva’s mobiquity Money platform. EcoCash Savings Club developed and managed by Cassava Fintech and powered by Comviva was recognised for its ability to increase digital & financial inclusion for women in Zimbabwe, as well as supporting the SDGs.
The win coincides with mobiquity Money’s ten-year milestone. “We are the number one player in this space and we are gaining market share,” said Srinivas Nidugondi, head of mobile financial solutions at Mahindra Comviva. “What makes us different is that this product has now been live for ten years, it’s been through multiple generations. Moreover, the ability to have the amalgamation of thought processes around financial services and mobility through telecoms is also critical.”
Nidugondi further added how Comviva has created a subsidiary called Terrapay that enables remittances coming from people working outside the country, for example. The company has also put in place smart payment gateways. “We are trying to plug in the various aspects of the value chain. What we are also trying to do is ensuring e-commerce transactions.” In the emerging markets, Comviva is also working in the micro-loans space as well as enabling the move from financial inclusion to wealth inclusion. At the MWC 2018, Comviva launched the fifth generation platform of mobiquity Money.