Comviva, a subsidiary of Tech Mahindra, receives I-TSP certification from Visa
By Edil Corneille
Tech Mahindra’s subsidiary Comviva, a digital financial solutions company, today announced that it has been certified by Visa as an Issuer Token Service Provider (I-TSP). The Gurgaon-based company was earlier certified as a Token Requestor Token Service Provider (TR-TSP) by Visa in June 2017. The Visa I-TSP and TR-TSP certifications are for Comviva’s mobqiuity platform that leverages Host Card Emulation (HCE) technology and Tokenisation to deliver swift, secure, frictionless and convenient contactless mobile payment to customers.
Comviva’s mobqiuity platform now offers Token Requestor TSP (TR-TSP) and Issuer TSP (I-TSP) solutions certified for usage with Visa Token Service (VTS). The platform is also a multi-TSP (Token Service Provider) solution, readily integrated and certified for usage with Mastercard’s MDES solution, and provides support for any other TSP, using a single proprietary Software Development Kit (SDK). Comviva is in the process of providing support for other schemes like RuPay and American Express, to increase the acceptability of the solution across more issuers and regions.
Srinivas Nidugondi, EVP and COO, Mobile Financial Solutions at Comviva said, “We are happy to complete all evaluation requirements of Visa Ready TSP program and achieve I-TSP certification. With both I-TSP and TR-TSP certifications, mobqiuity can now offer issuing banks, financial institutions and third party digital wallet providers a full-scale, comprehensive contactless mobile payment solution leveraging HCE and Tokenization. We like to thank Visa for their support and providing us opportunity to be part of their TSP program.”
“With more people opting for hygienic and safe contactless mobile payment during the current pandemic, mobqiuity enables issuing banks, financial institutions and third party digital wallet providers to meet needs of people by quickly launch contactless mobile tap and pay service on their existing mobile banking apps and digital wallets through quick and easy integrations with Comviva’s proprietary Software Development Kit (SDK). At the same time, mobiquity will provide the flexibility to launch a standalone contactless mobile payment service, without too much hassle.”
SBI Card, a credit card issuer in India, deployed mobiquity’s HCE and Tokenization solution in October 2019 to offer the contactless mobile payment service SBI Card Pay.
The HCE and Tokenization based mobile tap and pay solution is part of the mobiquity Banking Suite. The banking suite is a comprehensive digital banking and payments solution for banks and financial institutions, to not only build, manage and control the omni-channel experiences, but also continuously iterate and engage consumers, through instant configuration capability, experience automation, personalization, and experimentation engine. This empowers the bank to deliver a hyper-personalized experience, thereby enhancing the customer’s value, and, subsequently, profitably transition to the digital age.
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