Mahindra Comviva To Showcase New Innovations In Mobile Payments Space At The 4th Mobey Day Event In Barcelona

Mahindra Comviva, the global leaders in mobility solutions, is proud to be associated with the upcoming 4th Mobey Day annual event held in Barcelona, on October 14 – 15, 2015. With the aim of contributing to the rapidly growing mobile payments ecosystem, Mahindra Comviva’s Nitin Jain will deliver an engaging keynote on options for financial institutions to enhance security for HCE transactions. Mahindra Comviva will also showcase latest products from its mobile financial solution suite, mobiquity® Wallet and payPLUS, and will demonstrate how these products can help financial institutions, banks and mobile operators to transform their business performance.

The two day event will focus on the rapidly evolving payments landscape and its convergence with mobile and technology as well as look into new initiatives that can be adopted by banks and financial institutions to lead in the exponentially growing mobile finance economy.

Srinivas Nidugondi, SVP and Head Mobile Financial Solutions, Mahindra Comviva, commenting on the evolving payments ecosystem, says: “We are living in an era clearly defined by disruption. Banks, and other financial institutions, have to evolve with the times, or perish – it is either disrupt, or perish. Mahindra Comviva is disrupting the way the world transacts by leveraging the ubiquity of the mobile over new technologies facilitating payments like NFC (HCE), Biometrics, BLE and QR code”. Adding further, he says, “Mobey Day provides an excellent platform for addressing the challenges and opportunities in the mobile finance industry today by bringing all vested parties on a common platform”.

HCE and tokenization is expected to emerge as the big game changer on the payments scene, enabling NFC devices to perform card emulations, without having to rely on their secure element. Nitin Jain, VP, Mobile Financial Solutions, Mahindra Comviva, said, “Advent of HCE and tokenization has simplified the deployment of NFC. However, as with any pure software solution, the level of security would be comparatively less than a hardware-based solution. Thus, based on their risk appetite, we will see mobile payment players going for different variant based on their business model. While banks will go for pure HCE, mobile operators will take hybrid HCE route with tokenization. Hybrid HCE integrates the easy deployment and the scalability of a cloud infrastructure with the assets of a telco to enhance security, providing the best in both worlds.”

Mahindra Comviva is deeply invested in breakthrough digital technologies that create truly immersive and transformative payments experiences. It provides a comprehensive suite of mobile financial solutions for the issuing as well as the acquiring side of business. On the issuing side, Mahindra Comviva leverages its mobile Wallet solution, mobiquity® Wallet, to provide card issuers and banks with an integrated payment, loyalty and marketing solution, which provides consumers a whole new level of digital transaction flexibility through highly personalized and context-aware services. On the acquiring side of business, payPLUS provide merchants with an integrated mobile POS solution that deliver highly contextual promotions campaigns by leveraging location based services.

Mobey Day, hosted by the mobile financial services association Mobey Forum, explores various opportunities & challenges in the fast burgeoning mobile financial space today. This year’s talking points include value added services, HCE and tokenisation, big data, mobile identity, consumer engagement, and block-chain technology and virtual currencies.