mobiquity Money initiatives to encourage & facilitate use of mobile money in COVID-19 crisis
About
Applicant name: Comviva Technologies Ltd.
Innovation Name: mobiquity® Money – COVID-19 Crisis Response Solutions
Innovation Type: Feature
Website: https://www.comviva.com/
Mission: mobiquity Money initiatives to encourage & facilitate use of mobile money in COVID-19 crisis
Innovation Description: In ongoing COVID-19 crisis, mobiquity, world’s leading B2B mobile money platform powering 70+services in 50+countries (eg Airtel Money, Orange Money) is facilitating multiple initiatives to encourage mobile money use:
1)Removing service fee of mobile P2P transfers, bill & merchants payments, encouraging use amongst low-income users
2)Increasing transaction limits to accommodate increased transaction value
3)Shifting from agent-based to self-registration (low KYC, lesser limits), allowing more people to open mobile wallets from home during lockdown
4)Disbursing financial-aid digitally to mobile wallets of vulnerable people
5)Collecting Covid-19 relief donations digitally for government/NGOs
6)Health-insurance for remittance users
7)Making users resellers by allowing them to buy airtime/data for others & get bonus
8)‘Get Money’ service allowing users to fund mobile wallet by requesting money from others, loans, bank to wallet transfer
9)Facilitating home cash-in/cash-out(agent-at-
10)Digital Ediya (cash gift) transfer in R
Innovation Inspiration: In COVID-19 crisis, mobile payments help to avoid virus infected cash, maintain social distance, do transactions from home during lockdown, receive financial-aid etc. mobiquity is helping its clients- Mobile Money providers to make changes easily, launch new features rapidly to boost use. Egs-
-Airtel Money, Mobicash Mali, Inwi Money Morocco used mobiquity Pricing Engine to make P2P transfer fee zero, promoting safe payments for masses
-Airtel Money Malawi, BTC SMEGA Botswana increased transaction limit using mobiquity threshold management tool
-mobiquity helped client in Egypt to launch self-registration for opening mobile wallets from home
-Airtel Money Uganda, EcoCash Zimbabwe, AirtelTigo Ghana, bwalllet Bahrain are collecting COVID-19 relief donations digitally
-Movii Colombia is distributing govt financial-aid using mobiquity bulk payment feature
-EcoCash Zimbabwe giving free health cover to EcoCash Remit users
-Airtel Africa is giving users 3%-5% airtime bonus for buying airtime for others
-Airtel Tanzania launched ‘Get Money’
Who benefits from the innovation most? In COVID-19 crisis, mobile money services powered by mobiquity are helping 120 million people to safely make money transfers, pay bills & merchants from their home during lockdowns & maintain social distance, receive financial-aid from govt/NGOs, get health insurance & loans for emergency, request money from others & help others by sending them money or buying airtime/data for them
-Over 30 Mn people are enjoying zero fee money transfers, bill & merchant payments
-Over 8 Mn people are getting higher mobile money transaction limits
-Over half a million users opened mobile wallet from home via self-registration
-Movii Colombia has provided COVID-19 govt financial-aid to 13,000 vulnerable families
-Econet Zimbabwe raised ZW$ 1.4 Mn COVID-19 relief donation via EcoCash
-Many users received free health-insurance for using Remittance service
-Africans made over 100 Mn airtime recharge for other users & received bonus
-‘Get Money’ service allowed users to fund wallet by requesting money from others, get loans, do bank to wallet transfer
What are you most proud of about your innovation? 1)Flexible: mobiquity provides flexible tools with interactive GUIs like pricing engine, threshold management, allowing mobile money providers(MMPs) to quickly change service fee, transaction limits within minutes & provide zero-fee, increased limits benefit to consumers instantly in COVID times
2)Robust support: Emergencies require quick actions. Comviva helped client MMPs to launch new features rapidly in few days. Eg. Self-registration, ‘Get Money’ features in Egypt/Tanzania were launched within a week, remotely, despite of entire Comviva team working from home in India due to lockdown.
3)High uptime: Financial-aid disbursements are bulk payments, puts load on system. But Comviva processed these payment in batches maintaining high uptime. In Covid, transactions have increased but we have maintained 99.99% uptime.
4)Impact: In Covid-19 crisis, mobiquity is helping 120 ml people globally to safely make financial transactions from home, receive financial-aid, get insurance/loans, request money, help others by recharging airtime etc
Status of Innovation: In-market
Innovation Active Since: 03/15/2020
Applicant Type: Private Company
Headquarter City: Gurgaon
Headquarter Country: India
Year Founded: 1999
Main Category
Main Category Choice: Innovation in Time of Crisis
Why do you think you should win this category?:
Realizing importance of digital payments & mobile money in COVID-19 crisis & emergencies require rapid response, mobiquity has quickly facilitated many initiatives that encourages mobile money use & helping millions of people globally to make & receive payments safely in COVID-19 crisis:
-Removing service fee on transactions encouraging use amongst low-income users
-Increasing transaction limits to accommodate increased transaction value
-Providing self-registration with low KYC, lesser limits, allowing more people to open mobile wallets from home in lockdown
-Disbursing financial-aid digitally to mobile wallets of vulnerable people
-Collecting Covid-19 relief donations digitally for govt/NGOs
-Health-insurance for remittance users
-Making users resellers, allowing them to buy airtime/data for others & get bonus
-‘Get Money’ service allowing users to fund mobile wallet by requesting money from others, loans, bank to wallet transfer
-Facilitating home cash-in/cash-out(agent-at-
-Digital Ediya (cash gift) transfer in Eid
Secondary Category
Secondary Category Choice: B2B Solution
Why do you think you should win this category?
mobiquity is world’s leading B2B mobile money platform powering 70+services in 50+countries (eg Airtel Money, Orange Money). With mobile money becoming crucial in COVID-19 crisis, Comviva quickly came into action helping mobile money providers (MMPs) to make changes & launching new services.
Comviva provides robust support helping client MMPs to launch new features rapidly in few days. Eg. Self-registration, ‘Get Money’ features were launched within a week. All this was done remotely with Comviva team working from home in India due to lockdown.
mobiquity provides flexible tools with interactive GUIs like pricing engine, threshold management, allowing mobile money providers(MMPs) to quickly change service fee, transaction limits within minutes & provide zero-fee, increased limits benefit to consumers instantly in COVID times.
In COVID, transactions have increased but we have maintained 99.99% uptime. Financial-aid disbursements are bulk payments, puts load on system. But Comviva processed these payment in batches maintaining high up
Team Members
Full Name: Mohit Bhargava
Role: Product Marketing
Linkedin: https://www.linkedin.com/in/
Full Name: Monica Jasuja
Role: Head, Product Management, Mobile Financial Solutions, Comviva
Link: https://www.linkedin.com/in/
Full Name: Ritvik Sinha
Role: Product Manager
Link: https://www.linkedin.com/in/
Supporting Links
mobiquity® Money – COVID-19 Crisis Response Solutions Pitch Deck: https://www.comviva.com/wp-
