Mobile Payments

Mozido Secures Mobile Wallet Music Streaming Partner

Mozido is hearing the music — or, at least, helping consumers pay for it — in India.

It was announced yesterday (March 16) that the digital payments and commerce company has partnered with Saavn, a streaming music service in India, that will leverage Mozido’s mobile wallet platform for Saavn’s 18 million listeners by way of payments, rewards, financial services and offers.

A press release states that Mozido’s mobile wallet, when it is made available to Saavn’s customers later this year, will be integrated as the preferred payment option for the streaming music service’s premium offering, Saavn Pro.

“We’re incredibly excited to partner with Mozido for their entry into India, as well as help them build a strong brand in the market. Our team was impressed by Mozido’s MoTEAF technology platform, as well as by their overall roadmap for mobile payments and financial services for consumers in emerging markets,” stated Vinodh Bhat, Saavn cofounder, president and chief strategy officer, in the release. “We’re always on the lookout to provide our customers with new and convenient means to sign up, interact and pay for Saavn Pro, and this is such a great fit.”

“India is one of the world’s most dynamic and fastest-growing economies, and music is at the center of the Indian culture,” added Mozido CEO Todd Bradley. “Music services, and Saavn in particular, provide a powerful channel to all consumers. They have created a premium environment for people to engage with their passion for music.”

Also commenting in the press release was Michael Liberty, founder and chairman of global strategic initiatives at Mozido, who stated: “We’re elated to partner with such a strong company in the region and to have built such a compelling offer for our target audience. We very much look forward to working together over the next few years to bring our service to South Asia.”



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.