Comviva, GMEC win IBSi award for cross-border payments

By Vriti Gothi

Comviva and Global Money Exchange Co. LLC (GMEC) have won the IBS Intelligence Global FinTech Innovation Award 2025 for Best-in-Class Cross-Border Payments, recognising their joint deployment aimed at modernising remittance-led payment services in Oman.

The award acknowledges the implementation of Comviva’s mobiquity® Pay platform, launched by GMEC as the Global Pay Oman app. The solution goes beyond traditional cross-border money transfers by combining international remittances with forex services and a wider set of everyday payment use cases, including bill payments, merchant transactions and education-related payments, within a single digital wallet.

As cross-border payments face growing pressure to deliver faster, more transparent and more integrated experiences, particularly in migrant-heavy and trade-linked economies, the deployment reflects a broader industry shift away from standalone remittance products toward multi-service digital platforms. For GMEC, the strategy is designed to diversify revenue streams, improve operational efficiency and strengthen customer retention in an increasingly competitive payments landscape.

Rajesh Chandiramani, Chief Executive Officer at Comviva, said, “Cross-border payments are becoming a daily necessity, not a niche service, particularly for migrant and trade-linked economies. This recognition from IBS Intelligence validates our focus on building payment platforms that combine global reach with local relevance, operational resilience and a strong user experience. The deployment with Global Money Exchange Co. demonstrates how mobiquity^® Pay enables financial institutions to move beyond remittances and deliver integrated digital services at scale.”

Nikhil Gokhale, Director – Research & Digital Properties, IBS Intelligence, said, “The deployment of mobiquity^® Pay for GMEC showcases how scalable, API-driven digital wallet platforms can transform cross-border payments into seamless, value-rich experiences. By integrating remittances, bill payments, forex services, and AI-powered engagement into a unified Super App, Comviva has reimagined customer journeys and operational agility. This Best-in-Class cross-border payments win stands as a testament to Comviva’s excellence in enabling financial institutions to compete and grow in a digitally convergent world.”

The IBS Intelligence Global FinTech Innovation Awards recognise technology-led initiatives across banks, financial institutions and FinTech providers that demonstrate clear strategic intent, execution capability and measurable customer impact, following a global evaluation process.