Comviva & Global Money Exchange Win IBSi Global FinTech Innovation Award for Transforming Cross-Border Payments

Introduction

Comviva, a global leader in digital financial services and digital transformation solutions, and Global Money Exchange Co. LLC (GMEC) of Oman have been honoured with the IBSi Global FinTech Innovation Award 2025 for Best-In-Class Cross-Border Payments. The accolade recognises their successful deployment of mobiquity® Pay — a white-label digital wallet platform that goes beyond traditional remittance services to deliver an integrated, scalable cross-border payment ecosystem.

The recognition highlights a shift in how cross-border payments are being reimagined globally: from standalone money transfers to comprehensive digital wallets that combine money movement with everyday financial services.

Award-Winning Innovation: mobiquity® Pay for Global Pay Oman App

The IBS Intelligence award was granted for the Best-In-Class Cross-Border Payments category, acknowledging a digital solution that delivers superior customer experience, operational resilience, and strategic impact in the payments domain. The award specifically recognises how Comviva’s mobiquity® Pay platform was deployed by Global Money Exchange (GMEC) as the Global Pay Oman App — a unified digital wallet that combines international remittances, forex ordering, bill payments, merchant transactions, education-related payments, and other everyday financial services in a single experience.

Rather than positioning remittance as a singular service, this approach transforms the user journey by embedding multiple use cases into one platform. It enables GMEC to move beyond traditional money transfer services and expand its value proposition to consumers and businesses across Oman and beyond.

Strategic Significance and Market Impact

Cross-border payments have long been a focus of fintech innovation, especially in regions tied to remittances, migrant flows, and international commerce. However, many legacy systems still rely on siloed processes and limited service offerings. The Comviva-GMEC deployment demonstrates a new paradigm in which API-driven digital wallets seamlessly integrate multiple financial functions — effectively turning a remittance platform into a super-app for global payments and financial convenience.

For GMEC, the award validates a strategic move toward digital financial inclusion and diversification of services. Subromoniyan K.S., Managing Director at Global Money Exchange, highlighted that the award reflects Oman’s broader digital transformation ambitions and the company’s commitment to reshaping cross-border payments for people and businesses.

From Comviva’s perspective, the recognition underscores a leadership role in building scalable, customer-centric payment platforms that combine global reach with local relevance. CEO Rajesh Chandiramani noted that the award validates their focus on platforms that deliver integrated services — moving financial institutions beyond the traditional remittance framework into unified digital ecosystems.

Expert View: What This Win Means for Fintech

IBS Intelligence Director Nikhil Gokhale highlighted that the deployment of mobiquity® Pay illustrates how modern digital wallets — driven by API-first architectures — can transform cross-border payments into seamless, value-rich experiences. These platforms integrate remittances, bill payments, forex services, and AI-powered engagement, redefining customer journeys and improving operational agility for institutions.

The award also reflects a broader industry trend: cross-border payments are becoming core financial services for everyday users and businesses rather than niche functionalities. This shift is especially pronounced in migrant-heavy and trade-linked economies where demand for fast, transparent, and integrated payment services continues to grow.

Conclusion

Comviva and Global Money Exchange’s win at the IBSi Global FinTech Innovation Awards 2025 for Best-In-Class Cross-Border Payments reinforces both companies’ commitment to innovation in the payments space. By deploying a unified digital wallet that combines remittances with everyday financial functions, they have not only expanded the definition of cross-border payments but also set a benchmark for digital transformation initiatives across the industry.

As fintech continues to evolve toward super-apps and integrated financial ecosystems, solutions like mobiquity® Pay illustrate how technology can elevate the quality, convenience, and reach of global payments — benefiting institutions and users alike.

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