Financial Service to accelerate digital payments in Moldova and speed transition to a cash-lite economy
NEW DELHI, March 16, 2023 /PRNewswire/ — Moldcell, the leading mobile network operator in Moldova, announced its entry to the financial services market with a first-of-its-kind digital wallet, ‘moldcell money’. With this launch, Moldcell has become the first telecom operator in Moldova to provide digital financial services that bring a new level of convenience and security to its customers.
This service is now available through the moldcell money app and offers subscribers of any mobile network in the country to easily transfer money and pay for services directly from their mobile wallet. This new service is a significant step towards financial inclusion and creating a cash-lite economy.
The financial service is supported by Comviva, the global leader in digital financial solutions. Comviva has deployed its flagship mobiquity® Pay platform that provides several innovative capabilities. Users can make payments with their mobile numbers, without the need for bank cards or cash, and can transfer money to any mobile phone number or pay for services directly from the mobile app. The service also provides the ability to transfer money using an SMS code or through any Moldcell Center store, ensuring the safety of personal data and instant payment.
Commenting on the partnership, Olga Pavlic, Mobile Financial Services and Business Innovation Director at Moldcell said, “Our solution moldcell money is the first fintech service on the telecommunications market in Moldova, the purpose of which is to offer subscribers of all communication networks a wide range of financial services. The solution consists of three main components: the ‘moldcell money’ mobile application, which offers various services such as payments, bills, loans, government payments, gaming payments, money transfers to loved ones and bonuses; financial services available in direct Moldcell stores throughout the country, which makes transfers and payments convenient, simple and accessible; possibility to make payments with Moldcell number exclusively for Moldcell subscribers, offering an additional advantage of comfort and simplicity.”
“Comviva has been the industry leader in the payment space and our work on this market first project in the region shall set the stage for many more exciting developments in the payments space in the region. We are thrilled to partner with Moldcell in their digitization initiative that will offer a modern, digital first and secure way to manage payments,” said Srinivas Nidugondi, Chief Transformation Officer, Digital Financial Solutions at Comviva.
Comviva’s mobiquity Pay is one of the leading digital payment platforms across the globe. It is a cloud native, payment platform that caters to all digital money, wallet, and payment requirements. mobiquity Pay is a feature-rich, robust, scalable, and flexible platform that serves consumers, service providers and their partners. It facilitates digital payments for all customer segments and allows them to use multiple payment instruments like bank account, credit card, prepaid account & stored value account (SVA).