Comviva, MasterCard launch Mobile Money project

Mobile VAS developer Comviva has signed a partnership agreement with MasterCard to launch a Mobile Money Partnership Program. Comviva and MasterCard aim to help over 2.5 billion financially underserved consumers globally gain access to financial services via their mobile phones. The Mobile Money Partnership Program will address the need of consumers in developing markets through a readily accessible device, the mobile phone. Comviva will work with MasterCard to enable global consumers to purchase goods and services via their mobile phone at physical and online merchants, as well as transfer funds and pay bills. The agreement also covers Comviva's mobiquity mobile financial service that has already crossed over 55 deployments, 490 million subscribers in 38 countries. Via mobiquity, mobile users can access a range of financial payment services. It also provides multiple proven integrations – including payment, banking, credit card and ATM switches and systems.