Mahindra Comviva announced the debut of its connectMoney Service Manager. The announcement is part of a deal with Zimbabwe operator Econet Wireless.
As a part of the deployment of connectMoney Service Manager, Econet Wireless has issued MasterCard debit cards that are essentially linked to the EcoCash Wallet. According to the company, this is one of the largest roll-outs of secure EMV Chip and PIN payment cards in Zimbabwe.
According to MasterCard, It is also the first time that its debit cards are available to consumers using mobile money services in Africa. The company revealed that the connectMoney Service Manager connects mobile money services to financial systems powered by MasterCard and other card networks. EcoCash account holders will receive MasterCard debit cards allowing users to transact at POS terminals and also to withdraw cash via ATM machines accepting MasterCard, locally and internationally. ConnectMoney Service Manager also offers virtual cards on request. The virtual card number is delivered through a SMS, which is accepted for payments across all e-commerce websites. The virtual card is directly connected to the mobile money account of the subscriber.
Underlining the significance of the launch, Mr. Srinivas Nidugondi, Senior VP and Head Mobile Financial Solutions, Mahindra Comviva said: “Electronic payments acceptance is crucial to the Zimbabwean economy. It is imperative to provide convenient and integrated solutions to the consumers. connectMoney Service Manager will provide seamless interoperability with heterogeneous systems and services.”