Comviva, the international leader in mobility solutions, reveals that it has launched mobiquity Pay X, which is described as a next-gen digital wallet and payments platform.
mobiquity Pay serves as a digital financial services solution, supporting more than 70 digital wallets and payment services for over 130 million clients. It handles more than 7 billion transactions exceeding $130 billion annually in 50+ countries.
With its new mobiquity Pay X platform, Comviva has reportedly improved key aspects of digital financial services, such as scalability, quicker deployment, and time-to-market, simpler and more intuitive user lifecycle management as well as better experience and security.
This updated platform has been developed on microservices-based architecture and features independent as well as reusable components. The improved modularity supports quicker times to market and enhanced scalability.
mobiquity Pay X has supported Open APIs to seamlessly integrate with third-party systems and extended financial ecosystems. In order to further improve user experience (UX), the platform now provides an updated mobile app for clients, agents, merchants, and other business users.
It also offers an advanced User Management System (UMS) that enables back-office users to effectively manage the full lifecycle of consumers, agents, merchants, and other business users. Its user-friendly interface, predefined templates as well as real-time feedback assist with quickly carrying out relevant operations.
The updated platform has been designed to improve security with robust authentication and authorization modules. It offers greater flexibility to configure various PIN, password,s and access rules as per the guidelines.
Its advanced session management capabilities assist with identifying active sessions and logins from a user via several different devices and takes corrective action in order to prevent fraudulent activities.
Srinivas Nidugondi, EVP and Chief Growth and Transformation Officer at Comviva, stated:
“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.”
Srinivas added:
“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 provides an Order and Payment System that offers clients a complete, unified view of transactions carried out by different payment instruments. It offers end-to-end tracking of payment transactions across all phases. Additionally, it supports back-office users to check the status of payments while reliably identifying failed and ambiguous transactions (so that corrective or prevention actions such as refunds can be taken in order to complete the order-payment cycle).
The updated mobile app has reportedly been developed using the best design practices and has rich features such as self-registration, biometric login, profile personalization, payment via several different methods (prepaid wallet, card, bank account), favorite transactions, multi-currency support, currency conversion, real time-transaction tracking, referral bonus, merchant/agent locator, dynamic QR Code and other capabilities.
With an improved monitoring and alerting system, mobiquity Pay X is able to bring together or aggregates system logs and various performance indicator data sets and also offers a real-time view of operational parameters via dashboards.
mobiquity Pay X can support proactive disaster management by identifying critical breaches for application and system parameters before they might actually take place. It offers real-time notifications for performing corrective actions in advance.
Comviva has pre-integrated appropriate technology for enabling KYC and Personal Financial Management (PFM) in order to provide greater value to clients. These pre-integrated solutions have been designed to provide improved experiences to consumers, while lowering costs and time to market.