Logiq Partners with Comviva to Offer Digital Wallet and Payment Services to Millions of Mobile Users Across Indonesia
Logiq, Inc. (OTCQX: LGIQ) has partnered with Comviva to provide digital wallet and payment services in Indonesia, utilizing Logiq's PayLogiq platform and Comviva's mobiquity® Pay solution. This collaboration will facilitate micro-lending services for members of BPJSTK, Indonesia's social security agency, benefiting 48 million individuals and 600,000 SMBs. The services will enable financial transactions including loans, bill payments, and insurance access via mobile devices. Logiq aims to enhance digital financial access and boost economic activity through this strategic partnership.
- Partnership with Comviva to offer digital wallet services enhances market presence in Indonesia.
- Micro-lending services targeted at 48 million BPJSTK members and 600,000 SMBs provide significant growth potential.
- Logiq's PayLogiq and Comviva's mobiquity® Pay are expected to improve financial accessibility.
- None.
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NEW DELHI, India and NEW YORK, March 22, 2021 (GLOBE NEWSWIRE) -- Logiq, Inc. (OTCQX: LGIQ), a global provider of award-winning eCommerce and fintech solutions, has joined forces with Comviva, a global leader in digital financial solutions, to offer digital wallet and payment services across Indonesia. The services based on Logiq’s PayLogiq digital wallet will be powered by Comviva’s mobiquity® Pay platform.
Logiq also recently partnered with Yabx, a fintech venture of Comviva to offer credit-based financial services such as cash advance for merchants and ‘buy now, pay later’ (BNPL) options for consumers.
mobiquity Pay is one of the world’s largest digital wallet solutions, powering over 70 digital financial services across more than 50 countries and will play an essential role in Logiq’s new partnership with Koperasi Mona Santoso Berjaya (KMSB).
Together with KMSB, Logiq is providing micro-lending services to members of Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK), the social security agency that provides retirement and pension plans on behalf of Indonesian government entities.
The new micro-lending services will benefit BPJSTK’s 48 million members and 600,000 small-and-medium sized businesses (SMBs). The partnership with Comviva will allow Logiq to extend swift, convenient and secure digital wallet services to BPJSTK members and SMBs.
Using Logiq’s digital wallet, BPJSTK members and SMBs will be able to perform multiple financial transactions quickly and securely, including money transfers, receiving and repaying loans, accessing insurance, buying airtime or data, paying bills or merchants—all on their mobile phone, anytime, anywhere.
“Our partnership with Comviva enables us to provide best-in-class digital wallet services to thousands of individuals and SMBs in Indonesia,” said Matthew Brent, chief strategy officer at Logiq. “Digital is quickly becoming the preferred method for transactions, and the global pandemic has only accelerated that transition. By providing digital access to an array of financial services instantly from the convenience of a mobile device, we see our combined platform enhancing the lives of many people, helping to grow their businesses and boosting the country’s economic activity.”
Srinivas Nidugondi, COO and EVP of Digital Financial Solutions at Comviva, commented: “Our mobiquity Pay is a feature-rich, scalable and flexible digital wallet platform that has been deployed across five continents. We will bring our global expertise in digital wallets to this deployment with Logiq. The platform will enable Loqiq to accelerate the growth of digital wallets in Indonesia by introducing innovative digital financial services to transform the way Indonesians save, borrow, transfer and make payments.”
About Comviva Technologies Limited
Comviva is the global leader in digital solutions catering to The Business of Tomorrows. The company is a subsidiary of Tech Mahindra and a part of the
About mobiquity® Pay
Comviva’s mobiquity Pay is a one-stop solution for digital money, e-wallets, and mobile payments. It provides financial services to over 130 million consumers globally and processes more than 7 billion transactions that total more than
mobiquity Pay is a holistic platform that serves consumers, service providers and partners, and it facilitates digital payments for all customer segments banked or unbanked through all form factors and modes, including USSD, mobile applications, IVR, Web, QR codes and NFC.
For financially underserved consumers who need a digital wallet, mobiquity Pay offers a stored value account in the form of a prepaid digital wallet. This solution can facilitate multiple financial transactions, including money transfers, bill and merchant payments, salary payments, financial-aid disbursements, business to business payments and more. It also provides access to micro-financial services, like savings, loans and insurance. For banked and carded consumers, mobiquity Pay provides the option to make payment using a credit card, debit card or bank account.
About Logiq
Logiq, Inc. (OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its DataLogiq subsidiary provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s Fixel™ technology offers simplified online marketing with critical privacy features.
Logiq’s AppLogiq™ platform-as-a-service enables small- and medium-sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia. The company’s PayLogiq™ offers mobile payments, and GoLogiq™ offers hyper-local food delivery services.
For more information about Logiq, go to Logiq.com.
Forward-Looking Disclaimer
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Logiq cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on Logiq's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Logiq or its affiliates that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Logiq’s business, including, without limitation: the fitness of Logiq’s products and services for a particular application or market, the successful launch and development of Logiq’s partnership with KMSB, including the related pilot programs, expectations of future events, business trends, financial results, and/or business transactions that may not be consummated or realized, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission (“SEC”), including under the heading "Risk Factors" in Logiq’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Logiq undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
mobiquity® is registered trademark in India only.
For further enquiries, please contact:
Comviva Technologies Ltd.
PR & Corporate Communications
Sundeep Mehta
Tel +91- 124-481 9000
pr@comviva.com
Logiq Contact
Brent Suen, President
Logiq, Inc.
Email contact
Logiq Media & Investor Contact
Ronald Both or Grant Stude
CMA Investor & Media Relations
Tel (949) 432-7566
Email contact
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