Comviva, a global leader in providing mobile financial and mobile VAS solutions, has entered into a strategic partnershipwith mCommerce Services Limited (MCSL), a unique provider of M-Commerce services and solutions in Bangladesh. This agreement will strengthen Comviva’s reach in the Bangladesh market to leverage its robust and flexible mobile financial solution to the Banking community. The emphasis will be on enabling financial inclusion and the reach of banking and financial services to a vast majority of the population.
Via this partnership, Comviva and MCSL will work together to enable growth of mobile banking in Bangladesh by providing reduced operational costs and faster time to market to Banks, for the deployment of a mobile financial services solution. This will also extend benefits to all partners in the ecosystem – Retailers or Merchants/Billers and end consumers, towards further uptake of electronic payment services in the country.
Expressing delight in the strategic alliance, Milind Pathak, Vice President – South and South-East Asia, Comviva said, “We are elated to announce our partnership with MCSL, who will offer our award winning mobiquity® mobile financial platform to Banks in Bangladesh. MCSL’s services and market reach will enable Banks to offer mobile banking and payment services in a cost effective manner to promote financial inclusion in a country where almost 87% of the population is unbanked. Comviva will bring its proven domain expertise and experience of deploying mobile financial solution worldwide, to the table. We are confident that this new model will help Banks in the region increase their business efficacy through reduced operational costs and prompt time to market solution. This will further offer banks with various electronic payment options including utility and merchant payments.”
Commenting on this agreement, Ghalib Ahmed Ansary, CEO, mCommerce Services Limited (MCSL) said “We are delighted to partner with Comviva towards our commitment to the growth of mobile banking and serving the un-banked and under-banked customers in the country. Our association with Comviva to provide mobile financial services to banks across Bangladesh will be instrumental in redefining the way mobile banking and payments are perceived.”
Also present at this signing ceremony were Mr. Mehboob Chowdhury, Chairman, Association of Mobile Telecom Operators of Bangladesh (AMTOB), Mr. Moeen Tariq, Executive Director, MCSL and Mr. Tanvir Alam, Country Manager, Comviva Technologies.
Bangladesh has set itself firmly on the path to financial inclusion through mobiles, with a population of over 160 million and only 13 per cent bank accounts. Comviva’s new approach will support banks to drive new revenue streams for growth by enabling accessible and secure mobile financial services.
Comviva’s mobiquity® mobile financial solution is deployed by over 55 service providers and banks across the globe, enabling over 490 million end customers across Asia, Africa, Latin America and the Middle East to access mobile financial services. By linking banking services to the mobile phone, Comviva has enabled banks to radically change the banking landscape in their target markets by providing hitherto unbanked people with economical, anytime, anywhere access to banking services whilst delivering greater banking convenience to banked customers.