Best-in-class India-US digital wallet services
New York-headquartered Logiq, Inc. (OTCQX: LGIQ), a global provider of award-winning eCommerce and fintech solutions, has joined forces with India’s Comviva to offer digital wallet and payment services across Indonesia.
The services based on Logiq’s PayLogiq digital wallet will be powered by Comviva’s mobiquity® Pay platform, Logiq and Comviva said in a joint release on 23 Mar 2021.
Logiq also recently partnered with Yabx, a fintech venture of Comviva to offer credit-based financial services such as cash advance for merchants and ‘buy now, pay later’ (BNPL) options for consumers.
Comviva’s mobiquity® Pay is one of the world’s largest digital wallet solutions, powering over 70 digital financial services across more than 50 countries. It will play an essential role in Logiq’s new partnership with Indonesia’s Koperasi Mona Santoso Berjaya (KMSB).
Together with KMSB, Logiq is providing micro-lending services to members of Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK), the social security agency that provides retirement and pension plans on behalf of Indonesian government entities.
The new micro-lending services will benefit BPJSTK’s 48 million members and 600,000 small-and-medium sized businesses (SMBs).
The partnership with Comviva will allow Logiq to extend swift, convenient and secure digital wallet services to BPJSTK members and SMBs.
Using Logiq’s digital wallet, BPJSTK members and SMBs will be able to perform multiple financial transactions quickly and securely, including money transfers, receiving and repaying loans, accessing insurance, buying airtime or data, paying bills or merchants—all on their mobile phone, anytime, anywhere.
“Our partnership with Comviva enables us to provide best-in-class digital wallet services to thousands of individuals and SMBs in Indonesia,” said Matthew Brent, Chief Strategy Officer at Logiq.
“Digital is quickly becoming the preferred method for transactions, and the global pandemic has only accelerated that transition. By providing digital access to an array of financial services instantly from the convenience of a mobile device, we see our combined platform enhancing the lives of many people, helping to grow their businesses and boosting the country’s economic activity,” said Brent.
Srinivas Nidugondi, COO and EVP of Digital Financial Solutions at Comviva, commented: “Our mobiquity Pay is a feature-rich, scalable and flexible digital wallet platform that has been deployed across five continents. We will bring our global expertise in digital wallets to this deployment with Logiq.
“The platform will enable Loqiq to accelerate the growth of digital wallets in Indonesia by introducing innovative digital financial services to transform the way Indonesians save, borrow, transfer and make payments,” explained Nidugondi.
Comviva, a subsidiary of Tech Mahindra, is the global leader in digital solutions catering to The Business of Tomorrows. Comviva’s solutions are deployed by over 130 mobile service providers and financial institutions in over 95 countries and enrich the lives of over two billion people to deliver a better future.
Logiq, Inc. is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small-and-medium sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia. #technology #banking #investment #economy /fiinews.com
