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Asiahawala Powers Iraq’s First Mobile Money Service With Mahindra Comviva

By Sundeep Meta
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MWC 2016, Barcelona, Spain – February 23, 2016 - Mahindra Comviva , the global leader in mobile financial and mobility solutions, today announced that its mobiquity® Money has powered AsiaHawala , Iraq’s first mobile money service. AsiaHawala offers consumers with a mobile stored valued account for conducting a wide range of financial transactions quickly and efficiently. It provides customers a full range of integrated financial services on mobile like P2P Transfer, bill payments, merchant payments, salary payment and recharge service.

Currently, AsiaHawala is using USSD that is available across all types of mobile devices and will soon be adding new access channels.AsiaHawala is available to 10.6 million Asiacell customers which covers almost 28% of the total Iraqi population. To open an AsiaHawala account, Asiacell customers need to visit AsiaHawala agents and register for the service. Consumers can then deposit cash into AsiaHawala account and use it for all their daily transactions in the form of electronic money. Further, consumers can easily withdraw money from their account any time by visiting any AsiaHawala agents.

Zring Faruk, CEO, AsiaHawala commented "We are delighted to launch the first mobile money services in partnership with Mahindra Comviva that aims to transform the way people in Iraq transact and make payments. AsiaHawala is focused on improving people’s lives and positively contribute towards the economy by accelerating financial inclusion and economic development. We also trust that our customers across the country will find it easy, fast and a more convenient means of making financial transaction, transferring funds internally and internationally in later stages.

Speaking on the occasion, Srinivas Nidugondi, Senior Vice President & Head of Mobile Financial Solutions at Mahindra Comviva said, “As mobile phones become more functional, mobile money will clearly emerge as the financial solution for the unbanked. With only 11% of Iraqi adults holding bank accounts, AsiaHawala will help to accelerate the financial inclusion in Iraq providing simple, convenient and affordable means to make financial transactions. AsiaHawala powered by our mobiquity® Money is equipped to provide seamless and secure financial services on mobile.”

mobiquity® Money delivers a host of mobile money services that transforms the way consumers save, borrow, transfer and spend money. It is designed to seamlessly integrate consumer touch points with a wide ecosystem of banks, billers, merchants and third-party payment systems, creating a convergence powered by interoperability. Apart from delivering convenience to consumers, the solution enables financial service providers to acquire new customers, create long-term loyalty with existing ones, and seize new revenue opportunities to increase their footprint in the market. mobiquity® Money empowers financial service providers to be agile in their markets, with complete focus on the customers. mobiquity® Money has clocked 65 deployments in more than 45 countries. It powers three of the top 10 deployments globally and processes 200 million transactions every month amounting to $4 billion.

Mahindra Comviva is present at Mobile World Congressat Booth 5G51/HALL 5

About Mahindra Comviva
Mahindra Comviva is the global leader in providing mobility solutions. It is a subsidiary of Tech Mahindra and a part of the USD 16.9 billion Mahindra Group. With an extensive portfolio spanning mobile finance, content, infotainment, messaging and mobile data solutions, Mahindra Comviva enables service providers to enhance customer experience, rationalize costs and accelerate revenue growth. Its mobility solutions are deployed by over 130 mobile service providers and financial institutions in over 90 countries, transforming the lives of over a billion people across the world. For more information, please visit www.mahindracomviva.com

About AsiaHawala
Established by Iraqi Kurdish telecom professional, Zring Faruk, AsiaHawala for Non-Banking Financial Services Ltd. is a diversified financial services company, focused on improving people’s lives and positively contributing towards the economy through innovative and need driven financial products that are designed to inspire every walk of life. Established in 2014, AsiaHawala for Non-Banking Financial Services Ltd. is the forerunner in technology based financial solutions for everyone requiring access to financial transactions of any type.

Ranging from e-Wallets, Bill Payments, Salary Disbursements, Money Transfers to Merchant Payments and a lot more, we offer a wide selection of services that suit your everyday needs. We invest significantly in advance technology and thorough research in order to provide the customers with the most up to date and current bouquet of services that could be provided for the offering.