Comviva said that its latest platform improves all aspects of its existing digital financial solution. Credit: NordWood Themes on Unsplash.

Mobility solutions provider Comviva has launched an enhanced digital wallet and payment platform mobiquity Pay X.

The firm’s existing digital financial services platform mobiquity Pay is said to support more than 70 digital wallets and payment services for over 130 million consumers in more than 50 countries.

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According to Comviva, the latest platform improves all aspects of digital financial solution, including scalability, deployment and time to market, user lifecycle management and experience and security.

Fully built on microservices based architecture, mobiquity Pay X enables Open APIs to easily integrate with third party systems and extended financial ecosystem.

The platform also features revamped slicker mobile app for consumers, agents, merchants and other business users.

Besides, it offers an advanced User Management System (UMS) to help back-office users to easily manage the complete lifecycle of consumers, agents, merchants, and other business users.

Comviva said that the mobiquity Pay X ‘significantly strengthens’ security with authentication and authorisation modules.

The platform also offers complete flexibility to configure various PIN, password and access rules as per the requirements.

In addition, its advanced session management capabilities enable corrective action to defend fraud by identifying all active sessions and logins from a user via different devices.

Unified view of transactions

mobiquity Pay X is designed to offer consumers with a unified view of transactions carried out on different payment instruments.

It offers end-to-end tracking of the entire payment transactions across all stages.

It also allows back-office users to view status of payment transactions and identify failed and ambiguous transactions to take corrective actions like refund to complete the order-payment cycle.

Other features of the platform including biometric login, profile personalisation, self-registration, payment via multiple instruments, multi-currency support, real time transaction tracking, currency conversion, merchant/agent locator, referral bonus, and dynamic QR Code.

Comviva EVP and chief growth and transformation officer Srinivas Nidugondi said: “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 mobiquity Pay X platform shall help financial service providers scale their digital wallet and payment services faster and seamlessly.”

In March this year, fintech solutions provider Logiq partnered with Comviva to provide digital wallet and payment services across Indonesia.