Mahindra Comviva enables domestic interoperable mobile financial service
The new domestic interoperable mobile financial service made the use of mobile money more convenient for millions of users in Tanzania by expanding the network of people they can transact with. The service will reportedly enhance financial inclusion in Tanzania and complement the national financial inclusion framework, which aims to make formal financial services available to 50% of adult Tanzanians by 2015.
Powered by Mahindra Comviva's mobiquity® Money, the service offers users access to secure, fast and reliable money transfer to friends and family members who use another operator's mobile money service. It simplifies off-net money transfers and enables recipients to transact through the convenience of their own mobile phone without cashing out.
Srinivas Nidugondi, Senior VP & Head of Mobile Financial Solutions, Mahindra Comviva said, "We are delighted to facilitate interoperability in Tanzania. We have brought a paradigm shift in the mobile money space yet again, by offering an innovative and convenient service that addresses consumer concerns and leads to an increase in agility and business optimization for our customer. Our mobiquity® Money solution will ensure a secure environment for money transfers and cash withdrawals, making mobile money services more reliable for end users."
