TimesofMoney Announces Launch of 'Movit'

MUMBAI, India--(BUSINESS WIRE)--TimesofMoney, the global digital payments specialist, recently launched its suite of comprehensive Mobile Money solutions Movit aimed at catering to the burgeoning mobile payments market.

The new-age Movit platform caters to various verticals and businesses including banks, telecom companies, government utilities and retail stores by creating a host of services that aid financial inclusion. These include mobile commerce, agency banking, peer-to-peer remittances, etc. It is device agnostic and can be customized to both smart phones as well as feature phones.

The company’s expertise on global compliance and AML (anti-money laundering) best practices makes the job easier for any business aspiring to succeed using mobile payments. Simply, Movit offers security and safety in transactions with ample convenience and freedom to transact anywhere, anytime. With few players in the industry who offer a bundled service for mobile money utility, Movit makes for a compelling proposition.

Talking about Movit, Avijit Nanda, Chief Executive Officer, TimesofMoney, says, “TimesofMoney has several success stories to its credit. We have engaged with international clients for Movit and in fact are in the process of deploying it in Africa currently. Since Movit’s primary delivery channel is the mobile phone, it gives a huge thrust to the financial inclusion agenda of governments in emerging economies of India, Asia & Africa where there is an ever-increasing mobile penetration.”

“In India, the potential of the ubiquitous mobile phone is yet to be harnessed. Movit was born out of our global expertise in powering digital payments and our desire to leverage the platform. Many emerging economies and businesses are poised for growth in mobile money solutions and we have just the right proposition to drive this growth,” he added.

Recent studies indicate a surging global market for mobile-based payments that is set to grow exponentially in the next couple of years. There is a pressing need for businesses to make sure they have the ability to service this consumer need. Simultaneously, both the regulators as well as the other aspects of the ecosystem, including service providers, beneficiaries and users, are converging. To cater to this, Movit offers a completely customizable platform to equip businesses to facilitate mobile payments in different forms.