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AsiaHawala, Mahindra Comviva bags ‘Best mPayment Innovation’ Award Throws Light at Iraq’s Financial Hopes

Mahindra Comviva powered AsiaHawala

Mahindra Comviva powered Iraq’s first mobile money service, AsiaHawala is known to have bagged the ‘Best mPayment Innovation’ at Dubai’s recent event – Smart Card & Payments awards 2016.

Mahindra Comviva’s mobiquity Money powered AsiaHawala is claimed to be the first mobile commerce service in the antagonist country – where rampant corruption in both the private and public sector banks have staggered the basic amenities of financial facilities.

AsiaHawala is sought to fill this gap by ushering ubiquity of the mobile to provide “remote payments” facility to the unbanked as well as the underbanked. Besides providing transactional security for a wide range of payment activities like bill payments, money transfers, merchant payments, salary disbursements and e-wallets, AsiaHawala has provided employment opportunities to small merchants by making them their agents, thus contributing to the GDP of Iraq.

Citing on the joint development, Zring Faruk, CEO, AsiaHawala said, “We’re delighted to receive this award. AsiaHawala is filling the gaping hole left by the non- existing banking infrastructure in Iraq. By leveraging the near ubiquitous penetration of the mobile phones, we are providing ordinary citizens with mobile commerce facilities from the comfort of their homes. Recognition of this service at the prestigious Cards & Payments Conference means a lot to us. We will continue to provide superior and innovative services to the people of Iraq.”

Kaustubh Kashyap, Vice President – Middle-East and North Africa, Mahindra Comviva said, “We’re delighted that AsiaHawala has received this award against the stiff competition from the other international wallet service providers.  It reaffirms our strong leadership position in the industry when it comes to driving technological and functional innovations.  It also validates our ability to cater to localized market needs and requirements with robust solutions. We will continue to invest in such technologies and deliver solutions to serve all the segments of the society – banked, under-banked and the unbanked. ”

mobiquity Money is designed to seamlessly integrate consumer touch points with a wide ecosystem of banks, billers, merchants and third-party payment systems, creating a convergence powered by interoperability.

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