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Mobile solutions provider Mahindra-Comviva, a unit of Indian giant Tech Mahindra, has partnered with Chilean company TransferMoney to introduce mobile wallet in the country.
The solution is available for people who do not have a bank account and works on both smartphones and feature phones.
"We are absolutely convinced that this product will create opportunities and development that will benefit the consumer in terms of giving them more mobile solutions to have an iWallet," said Vikram Shanbhag, senior VP, Americas region and global channels at Mahindra Comviva.
Shanbhag recently told BNamericas that as Latin America overcomes regulatory challenges and consumer distrust mobile solutions will take off.
Comviva has been targeting the Latin American market for the last four years and has deployments in some 10 countries in Central and South America and the Caribbean with messaging, mobile data, prepaid recharge and mobile financial solutions such as mobile money.
Mobile financial solutions are now the major focus for the company, accounting for 35% of revenues.