By ET Bureau - July 01, 2021 3 Mins Read
Digital payments company Movii announced that it surpassed 1.5 million customers on its digital wallet platform in May 2021. MOVii ranks fifth in the Colombia’s financial institutions ranked in terms of transaction volume and reached that mark faster than any other financial institution in the country.
MOVii is Colombia’s first 100% digital money platform, where everything from customer registration to payments takes place using the mobile app. Movii’s vision is to revolutionize financial inclusion by making it easier for everyone to pay and use their money digitally without bureaucracy.
MOVii is powered by Comviva ‘s mobiquity® platform , which offers more than 70 digital financial services in more than 50 countries. The next-generation money platform allows consumers to transfer money, receive loans, receive financial assistance, pay bills, make payments to merchants, recharge mobile connections and buy digital content instantly, easily and securely, anywhere and at anytime using a cell phone.
MOVii’s digital wallet platform has been used extensively during the COVID pandemic by all sectors of society with its customer base and transactions increasing exponentially. The MOVii digital wallet platform allowed people to pay essential utility bills and bills, shop online and transfer money to needy family and friends while in confinement from the safety of their homes.
More than 240,000 economically vulnerable people received emergency aid from the Government of Colombia through MOVii, which helped them sustain themselves during the pandemic.
Hernando Rubio , co-founder and CEO of MOVii, said: “MOVii and Comviva share a vision of leveraging digital technology to provide financial services to everyone without any discrimination. We are passionate about the democratization of financial services and financial inclusion even across industries. more economically vulnerable.
That vision and passion has enabled MOVii to reach more than 1.5 million mobile wallet users. We will further accelerate this growth by offering new digital financial services that are relevant and contextual to the people of Colombia.”
Manoranjan (Mao) Mohapatra, CEO of Comviva, said : “We congratulate our partner MOVii for surpassing 1.5 million customers. MOVii has democratized financial access in Colombia and also paved the way for the growth of a digital economy.
The rapid growth in the use of MOVii during the pandemic, from emergency relief to remote payments made from home during confinement, highlights the importance of digital financial services today as well as in the future. new innovative use cases centered on the customer and delivering an improved user experience.”
Movii has been continuously investing in innovation and launching new products aimed at the user’s needs. It is working on the launch of five new products – payments for ecosystem services (PES), interbank transfers, international remittances, insurance and buying and selling cryptocurrency assets – that will drive its future growth. Forbes named MOVii one of the 30 most promising Colombian companies.
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