Comviva Wins Global Telecom Business Award for Innovation in E-Consumer Services for Banglalink mWallet

Orascom telecom Bangladesh Ltd (Banglalink), the second largest mobile operator of Bangladesh in partnership with the Comviva, the global leader in providing mobile solutions beyond VAS, has won the Global Telecom Business award for innovation in E-Consumer Services for Banglalink mobile wallet service. The service, equips customers as well as accredited agents with a stored value account to conduct a range of financial transactions including international remittance, utility bill payments and mobile ticketing using their mobile phones.

Global Telecom Business Awards were announced at the Global Telecoms Business Innovation Summit 2011, held in London recently. The GTB Innovation Awards are designed to honour innovative projects involving telecom operators and service providers around the world working in association with their vendors and suppliers.

Speaking on the occasion, Milind Pathak, Vice President SAARC, Comviva said, “We would like to thank Global Telecom Business for recognizing our efforts and commitment towards improving people’s lives through mobile solutions, such as mobile money. Comviva’s mobiquity Mobile Financial Services platform powering Banglalink mWallet, is architected to meet scalability, security and reliability requirements. Providing mobile financial services is a key focus area for us, and we are pleased to see Banglalink being recognized by the Global Telecom Business.”

Speaking on the occasion, Solaiman Alam, Head mCommerce, PR and Communication, Banglalink, Bangladesh said, “We are honored to win this award as it stands testament to our goal of making a difference to people’s lives by bringing new and affordable services to everyone. We chose to partner with Comviva due to their leadership in the mobile financial services space and their ability to deliver mobile money services efficiently. The pervasiveness of mobile telephony makes it a powerful tool to develop a sustainable financial ecosystem for the unbanked segments within Bangladesh. Banglalink has been pivotal in strengthening the country’s telecommunication infrastructure and advancing vital connectivity services to the masses.”

Banglalink’s mWallet transforms the mobile phone into a convenient cash-free and card-free transaction medium, enabling storage and transfer of money to and from a secure, stored value account. The service supports multiple transactional methods, including cash-to-bank, cash-to-cash, cash-to-wallet and wallet-to-wallet to maximize service access. The service fully complies with regulations and benefits from a robust, open ecosystem of multiple banks, money transfer operators, billers and service providers. The use of existing distribution and international payment infrastructure for cash-in and cash-out provides economies of scale and improves services access, whilst controlling financial intermediation costs to bring low-principal, high-frequency transactions into the mainstream.

 

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