Mobility solutions provide Comviva has launched mobiquity Wallet Tap and Pay solution to accelerate digital payment services in India.

Issuing banks and third party digital wallet providers can leverage the solution to quickly and easily launch contactless mobile payment service on their existing digital wallets and mobile banking.

This will be made possible through integration of Comviva’s software development kit (SDK).

In addition, mobiquity Wallet Tap and Pay allows launch of a standalone contactless payment service.

The mobiquity solution uses Host Card Emulation (HCE) that allows customers to carry a digital version of their credit or debit card in mobile. This digital card can be used at point-of-sale terminals.

It also leverages tokenisation to ensure secure payments by generating a one-time use cryptogram to protect original card details.

Comviva chief operating officer of mobile financial solutions Srinivas Nidugondi said: “With the growing NFC POS infrastructure in India and mobile phones becoming de facto wallets for consumers, we expect ‘wave and pay’ or ‘tap and pay’ to become the future of contactless payments in India.

“We are happy to say that Comviva is making this future possible through its mobiquity Wallet Tap and Pay solution, leveraging HCE and tokenisation for seamless and secure mobile payments to all digital wallet users bringing the payment experience in India on par with the developed world.”

Currently, the mobiquity solution supports Visa and Mastercard. The company is working to expand the support for other schemes, including RuPay and American Express.

Comviva also hopes to include additional use cases such as in-app payments, consumer and merchant initiated QR payments.

This announcement is in line with recent Reserve Bank of India (RBI) guidelines for safe digital payments ecosystem in the country.

In January 2019, the central bank permitted card networks to provide tokenisation services to all third-party mobile app providers, allowing secure digital payments.

RBI, in October last year, also outlined guidelines to enable interoperability between various forms of prepaid payment instruments (PPIs), including digital wallets.