NEW DELHI, June 30, 2021 / PRNewswire / – Digital payment company MOVii announced it has passed the 1.5 million customer milestone on its digital wallet platform in May 2021. MOVii is ranked fifth among all financial institutions in Colombia in terms of transaction volume and has reached this milestone faster than any other financial institution in the country.
MOVii is that of Colombia The first 100% digital money platform, where everything from customer registration to payments is done using the mobile app. MOVii’s vision is to revolutionize financial inclusion by making it easier for everyone to pay and use their money digitally without paperwork.
MOVii is powered by by Comviva mobilityÂ® Platform, which enables more than 70 digital financial services in more than 50 countries. The next-generation monetary platform enables consumers to transfer money, get loans, receive financial assistance, pay bills, make merchant payments, top up a mobile connection and buy digital content, instantly, easily and securely, anywhere, anytime using a mobile phone.
MOVii’s digital wallet platform has been used extensively during the COVID pandemic by all sections of society, with its customer base and transactions growing exponentially. The MOVii digital wallet platform has enabled people to pay bills and essential utility bills, shop online, and transfer money to family and friends in need during the lockdown since the security of their home. More than 240,000 economically vulnerable people received solidarity income from the government of Colombia via MOVii, helping them sustain themselves during the pandemic.
Hernando Rubio, co-founder and CEO of MOVii said, âMOVii and Comviva share a vision to leverage digital technology to deliver financial services to all without discrimination. We are passionate about the democratization of financial services and the financial inclusion of even the economically vulnerable section. This vision and passion has enabled MOVii to reach over 1.5 million mobile wallet users. We will further accelerate this growth by delivering new digital financial services that are relevant and contextual for people of Colombia. “
Manoranjan (Mao) Mohapatra, Managing Director of Comviva said: âWe congratulate our partner MOVii on passing the 1.5 million customer milestone. MOVii democratized financial access by Colombia as well as the path created for the growth of a digital economy. The rapid growth in MOVii use during the pandemic, from paying solidarity income to remote payments from home during the lockdown, underscores the importance of digital financial services now and in the future. We will continue to support MOVii by launching innovative new customer-centric use cases and delivering an improved user experience. “
MOVii has continuously invested in innovation and launching new products focused on user needs. It is working on the launch of five new products: PSE payments, interbank transfers, international transfers, insurance and the purchase and sale of crypto assets that will be the engine of its future growth. Forbes ranked MOVii among the 30 most promising Colombian companies.
Comviva mobilityÂ® Pay is one of the world’s largest digital financial services platforms. It meets the financial needs of more than 130 million consumers and processes more than 7 billion transactions valuing 130 billion dollars annually.
OVii is the most amazing challenger bank in Colombia, focused on changing the banking category, improving the financial inclusion of those who have never been on the system and giving them the ability to manage their money the way they want through an app and a card. MOVii is moving forward with a disruptive, hassle-free value proposition that connects with people, with their financial needs, and addresses their lack of access to banking services. With this model, MOVii is expected to reach 3.2 million users in 2021 and become the leading digital bank in Colombia.
About Comviva Technologies Limited
Comviva is the world leader in mobility solutions and is part of the $ 21 billion Mahindra Group. Customer-centric, innovation and ethical corporate governance at its heart, the company’s offerings are broadly divided into three categories: financial solutions, digital systems and growth marketing. Its broad portfolio of solutions covers digital financial services, customer value management, messaging and broadband solutions, and digital lifestyle services. The company strives to enable service providers to improve the customer experience, solve real-world challenges in the field, and leverage technology to transform customers’ lives. Comviva solutions are deployed by more than 130 mobile service providers and financial institutions in more than 95 countries and enrich the lives of more than two billion people to provide them with a better future. For more information, please visit www.comviva.com
Senior Director, Public Relations and Corporate Communications